Riyadh – Mubasher: Aljazira REIT Fund’s manager, Aljazira Capital, announced the renewal of a lease agreement for warehouse number 3, located in block number 10 of the third complex in the Al Khumra district of Jeddah.
The contract was signed with the existing tenant, Hamad Mohammed Al Rugaib & Sons Trading Co., according to a bourse filing.
The lease agreement covers a total area of 11,229 square meters.
Meanwhile, the renewed lease carries an annual rental value of SAR 1.45 million, excluding value-added tax.
For the contract duration, Aljazira Capital noted that the agreement spans a duration of five years, commencing on 1 July 2026 and concluding on 30 June 2031.
According to the fund manager, the new rental rate represents a 62.5% increase over the previous lease value.
Aljazira Capital expects the financial impact of this transaction to be positive for the fund’s revenues during the 2026 fiscal year.
Furthermore, the property is one of the key industrial assets held within the Aljazira REIT portfolio in the western region of Saudi Arabia.
