Derayah REIT leases hotel tower in Riyadh for SAR 6.5M average annual rent

Logo of Derayah REIT Fund

Derayah REIT Fund leased a hotel tower located on Al-Olaya Main Street, Riyadh, to a master tenant, fund manager Derayah Financial said in a statement to Tadawul.

 

The annual rent starts at SAR 5.5 million and rises to SAR 7.5 million over the lease term, bringing the average annual rent to SAR 6.5 million.

 

For more news on listed companies

 

The lease term is 15 years with a grace period of 12 months, the statement said. As a result, the occupancy rate of the fund's properties will increase.

 

The impact is expected to be generally positive, which will be reflected in the fund's results during the second half of 2024, Derayah Financial stated.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request