Logo of Jadwa REIT Saudi Fund
Jadwa REIT Saudi Fund signed a property management agreement (management, operation, and leasing contract) for the Lafif Complex with Sareed Development and Real Estate Investment Co. The agreement aims to carry out the responsibilities of complex leasing, marketing, management, operation, and maintenance supervision.
In a statement to Tadawul today, the fund manager indicated that the signing formalities were completed and the agreement will take effect on June 1, 2025, for one year. It expects that the agreement will have a positive impact on the fund's financial results in Q3 2025. The fund manager also confirmed that there is no related party.
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In 2023, Jadwa Saudi REIT Fund signed a sale and purchase agreement (SPA) for the Lafif office complex at a total value of SAR 120 million.
Lafif complex is an office complex with 6,000 square meters (sqm) of land area and 19,000 sqm of built-up area, including two floors of underground parking.
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