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Al-Jazira REIT renews Jeddah warehouse lease with over 62% rental increase
Al Jazira Financial Markets Company entered into a new lease agreement for a warehouse in Jeddah with Hamad Mohammed Al-Raqeeb and Sons Trading for a period of five years. The rent has increased by 62.5%, reaching 1.46 million riyals annually. The agreement aims to strengthen the fund's cash flows and ensure income stability. It also reflects growth in the logistics real estate market in Saudi Arabia and an improvement in the market value of properties in the region.
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