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Clean Life Co. Announces the Lease of Part of a residential building in the amount of 525,000
9581
CLEAN LIFE
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1446/10/05 03/04/2025 08:00:25
| Element List | Explanation |
|---|---|
| Introduction | Referring to the company's announcement dated 21/02/1446 AH, corresponding to 25/08/2024, regarding the construction of housing for its employees, Clean Life Co. announces the signing of a partial lease contract for the residential building at a value of 525,000 SAR. |
| Transaction Details | The signing of a lease contract for part of the residential building owned by Clean Life CO in Riyadh, which represents approximately 30% of the building's capacity, exceeding the company's needs for one year, starting from 05/04/2025. |
| Transaction Amount | 525,000 |
| Transaction Conditions | None |
| Parties of the Transaction | - Clean Life Co. (the Lessor). - Al-Fanar Projects Company (the Lessee). |
| Date of Entering Into The Transaction | 2025-03-28 Corresponding to 1446-09-28 |
| Description of Activity of The Asset Subject of The Transaction | A residential building for the company's employees in Riyadh, located in Al-Rimal District, fully owned by the company. |
| Transaction reasons | Leasing the surplus residential space to optimize the use of the property. |
| Expected Impact of the Transaction on the Company and Its Operations | Achieving a positive impact on the company's revenues and reducing the impact of financing costs associated with the construction of the asset, with expected effects to be reflected in the financial results for the first half of 2025. |
| Related Parties | None |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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