Riyadh — Mubasher: Al Aziziah REIT Fund signed a new lease agreement with Amlak International Finance for a property covering 1,400 square meters in Building C of the I-Offices property located in Riyadh.
The lease is scheduled to commence on 25 October 2026 and will run through 31 December 2030.
Under the terms of the agreement, the annual rental value is set at SAR 2.69 million, bringing the total value for the entire contract duration to SAR 11.28 million, excluding value-added tax.
Amlak International currently occupies the entirety of Building D at the same property, encompassing 2,910 square meters under a separate lease expiring on 24 March 2030.
Wasatah Capital, the fund manager, expects a positive financial impact on the fund’s revenues. The new agreement represents a 70.50% increase in the annual rental value for the specific area, rising from the previous rate of SAR 1.58 million to SAR 2.69 million. This growth in rental income is expected to be reflected in the fund's financial results over the contract term.
