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Al Jazeera REIT Extends Lease with BAPCO
Al-Jazira Securities Company for Financial Markets announced the renewal of a lease contract for a warehouse owned by Al-Jazira REIT Fund in the Al-Khumrah area of Jeddah for a period of three years. The rental rate has increased by 59% compared to the previous contract. The agreement covers a warehouse with an area of 10,000 square meters, and the lease term runs from May 1, 2026, to April 30, 2029, at an annual value of approximately 1.35 million SAR, excluding value-added tax. The increase reflects an improved return on the property and is expected to enhance the fund’s financial results starting in 2026.
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