Riyadh – Mubasher: Aljazira REIT Fund has renewed a lease agreement for warehouse number 1 located in block 10 of the First Complex in Jeddah.
The facility, situated in the Al Khumra district, covers a total area of 10,584 square meters.
The lease was renewed with the existing tenant, Hassan Ali Al Touri Company, for a duration of five years. Under the terms of the agreement, the annual rent is set at SAR 1.53 million, excluding value-added tax (VAT).
The contract is scheduled to commence on 1 September 2026 and will conclude on 31 August 2031.
The fund manager expects the financial impact of this transaction to be positive for Aljazira REIT’s revenues during 2026.
According to the disclosure, the annual rental price for the new contract represents a 3.57% increase compared to the previous lease rate for the same asset.
At the end of June 2026, the total income reached SAR 3.43 million, while the net assets hit SAR 90.75 million.
