AlJazira REIT renews warehouse lease with Al-Moqai Almotahid

30/04/2025 Argaam

AlJazira REIT renews warehouse lease contract with Al-Moqai Almotahid

Logo of AlJazira Capital 

AlJazira Capital renewed a lease contract for Warehouse No. 1 in Block No. 4 (Fourth Compound), with a total area of 10,670.71 square meters, to Al-Moqai Almotahid Holding Co. (formerly Al-Moqai Al-Raees Property Management Co.), according to a statement to Tadawul.

 

The warehouse, owned by AlJazira REIT Fund, is located in the Al-Khomrah area of Jeddah. The lease term is five years, starting March 20, 2025, and ending March 19, 2030.

 

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The annual rent is SAR 1.28 million, excluding VAT, with an 8.3333% increase in the third year.

 

AlJazira Capital said the deal is expected to positively impact the fund’s revenues in 2025, noting that the new rent is 50% higher than the previous lease for the first two years, in addition to the agreed increase over the remaining term.

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