AlJazira REIT renews warehouse lease at SAR 1.5 mln annually

07/09/2023 Argaam
Logo ofAlJazira Capital

Logo of AlJazira Capital

AlJazira REIT Fund renewed the lease contract of Warehouse No. 1, block 10, spanning 10,580 square meters in Al-Khomrah, Jeddah, fund manager AlJazira Capital said in a statement to Tadawul.

 

The three-year contract with Astra Grains started as of Sept. 1, 2023, at an annual rental value of SAR 1.48 million, the statement added.

 

The related financial impact will appear on the fund’s revenue for 2023. The rental value under the new contract is similar to previous one in line with the current warehouse rentals in the area, the statement said. 

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