Aljazira REIT signs warehouse lease contract for 3 years

25/08/2020 Argaam

 

Aljazira Capital signed a lease contract with Abaqer Transport and Storage Services Co. Ltd. for the lease of the warehouse no. 3 of block 4 located in Al-Khomrah region in Jeddah and owned by Aljazira REIT Fund, the company said in a bourse statement.

 

The three-year lease contract will start on November 20, 2020, until November 19, 2023, at annual rental of SAR 833,000.

 

Aljazira Capital indicated that the financial impact of the deal is expected to be positive, which will be reflected on FY2020 financials and beyond, so that all warehouses are 100% leased.

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