Signworld leases industrial building in Sudair Industrial City for SAR 8M

Logo of Signworld

National Signage Industrial Co. (Signworld) signed a lease agreement with Leyard Middle East to rent its industrial building located in Sudair Industrial City, for SAR 8 million, the company said in a statement on Tadawul.

The company noted that the annual rent amounts to SAR 700,000 for the first five years and SAR 900,000 for the following five years, payable annually in advance.

The agreement will become effective upon obtaining approval from the Saudi Authority for Industrial Cities and Technology Zones (MODON). The lease covers the factory and its facilities for 10 years, starting Jan. 1, 2026, and ending Dec. 31, 2035, renewable for an additional 10 years upon mutual agreement.

Signworld stated that the factory will be used for LED screen and LED lighting manufacturing, adding that the deal aims to generate rental income, maximize the utilization of its industrial assets, and complete the electromechanical works and factory preparations in line with international standards to support electronics manufacturing development.

The company expects the deal to provide a steady income stream that will strengthen its financial position, indicating that the rental income will be used to support working capital and operational activities.

It added that related parties are involved in the transaction, as Leyard Middle East is a joint venture between China’s Leyard Group and Engineer Holding Group.

The company also noted that the tenant will receive the facility in its current condition and will bear all mechanical, electrical, plumbing, and additional interior works without any financial liabilities on the lessor.