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AlJazira REIT Fund renewed the lease contract for warehouse No. 1 of block 4, with the client Al-Moqai Al-Raees Property Management Co. for three years from March 22, 2022, at SAR 853,658 per year, the fund manager AlJazira Capital said in a statement on Tadawul.
The warehouse is located in Jeddah, with estimated area of 10,670.7 square meters.
The financial impact of the deal is expected to be positive on the fund revenue for 2022, as rental price for the new contract is similar to previous rental price and according to the current warehouse rentals in the area, the statement added.
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