Al Rajhi Capital Announce the Occurrence of Specific Event to Al Rajhi REIT Fund regarding the leasing of an educational building located in Al-Taawun district in Riyadh.
Al Rajhi Capital (“Fund Manager”), in its capacity as the manager of Al Rajhi REIT (“Fund”), announces the early termination of the lease agreement with Al Faris Schools, noting that the contract was set to end on 30/6/2026. Accordingly, a new lease agreement has been signed with “Al Rowad International Schools Company”.
starting on: 1/8/2025
Contract term: 30 years.
The annual rental income: SAR 15.5 million, in addition to 5% increase every 3 years.
The new contract results in a 55% increase in rental income compared to the previous contract.
The impact is expected to be generally positive and will be reflected in the Fund’s results starting from the third quarter of 2025.div>
