Al-Rashid Mall -Abha

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Property Description

The property is a 2-storey shopping mall, located on King Fahad Road, Abha, and is built up on a total area of 89,500 sqms. The property was built and started operations in 2017. It comprises 200 shops, 20 restaurants and a hyper market built up on a total area of 4,694 sqms.

Property Details

Category Commercial,Retail
Category Leasehold Interest
Location Abha
Status Completed
Operational since November-2017
Completion (%) 100.00 %
Built-up Area 147.97 Thousand (m2)
Property Manager Saudi Bonyan Real Estat Investment
Property Owner Bonyan REIT

Operation Details

Leasable Area 55.7 Thousand (m2)
Occupancy (%) 78.00 %
No. of Tenants 193
Contract Term 20-1
Annual Rent (Million Riyals) 34.58
Annual Yield 15.49 %

Valuers

  • Valustart
  • Saudi Asset Valuation

Property Evaluation (M)


Valuers 2021 - First half 2020 - Second half 2020 - First half 2019 - Second half 2019 - First half 2018 - Second half
Valustart 575.00 573.00 580.30 575.00 538.00 523.90
Saudi Asset Valuation 646.47 637.44 632.20 614.90 564.40 539.90
Average

Acquisition Data

Acquisition Value (M) 223.20
Acquisition Date 2018
Funding Internal Resources

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