Al Maather REIT says Al-Rabie leasehold contract expires in 3 months

09/08/2021 Argaam

Logo of Al Maather REIT Fund

Osool & Bakheet Investment Co., the fund manager of Al Maather REIT Fund, announced that the leasehold contract of Al-Rabie leasehold contract, located in Al-Rabie neighborhood on King Abdulaziz road in Riyadh City, ends within three months, on Nov. 5, 2021.

 

The company said in a bourse statement that the net income of the expiring contract after lease expenses is SAR 471,760, which accounts for 0.9% from the gross fund rent income.

 

The resulting impact is a significant decrease in the total rent value of the fund by less than 1%, worth SAR 471,760.

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