Al Jazeera REIT Renews Warehouse Lease at SAR 1.46 Million Annually, Up 62.5%

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Al Jazeera Financial Markets announced the renewal of the lease contract for Warehouse No. 3, Block No. 10 (Third Complex), owned by Al Jazeera REIT Fund, with the current tenant, Hamad Mohammed Al-Ruqib and Sons Trading Company, for five years.

The company said the warehouse is located in Al-Khumra area in Jeddah, with an area of 11,229 square meters. The lease term begins on July 1, 2026 and ends on June 30, 2031, noting that the annual rent value is SAR 1.46 million excluding VAT.

The company expected in its statement today on Tadawul that the deal would have a positive financial impact on the fund's revenues in 2026, noting that the rent value in the new contract has increased by 62.5% compared to the previous contract.

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