Hawyia signs exclusive brokerage, marketing agreement for Riyadh office leasing

Logo of Hawyia Auctions Co.

Hawyia Auctions Co. signed on Sept. 28 an agreement with Manjm Kathib Investment Co. for the exclusive marketing and leasing brokerage of a commercial office property in Al Narjis district, north of Riyadh.

For more news on listed companies

In accordance with the terms and incentives stipulated in the contract, Hawyia will be compensated with 5% of the first year's rental value for its marketing and brokerage services, the company stated in a statement to Tadawul.

The company expects the deal to generate operating revenues exceeding 1% of its top-line based on the latest audited annual financial statements.

The contract runs for four months starting from the date of signature, with the option for renewal upon mutual agreement.

The deal is projected to have a positive impact on the company’s financials for 2025, with the effects potentially extending into the six-month results that conclude on June 30, 2026.

Al-Soliman Real Estate Co., one of its major shareholders, wholly owns Manjm Kathib, the statement added.

Hawyia also indicates that if any material events occur that require disclosure in accordance with the rules and regulations, they will be disclosed in due course.