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Saudi Real Estate Co. (“Al-Akaria”) announces the Lease of Al Reef Residential Compound in the amount of SAR 1,199,299,500 (excluding VAT)
| Element List | Explanation |
|---|---|
| Introduction | Saudi Real Estate Company (“Al Akaria” or the “Company”) announces the leasing of Al Reef Residential Compound, located in the Diplomatic Quarter in Riyadh, for a total value of SAR 1,199,299,500 (excluding VAT) for a term of 20 years. |
| Transaction Details | The leasing of Al Reef Residential Compound, located in the Diplomatic Quarter in Riyadh, for a total value of SAR 1,199,299,500 (excluding VAT). for a term of 20 years. The compound comprises a total of 240 residential units, including 176 apartments, 64 villas, and townhouses, in addition to a commercial showroom |
| Transaction Amount | SAR 1,199,299,500 (excluding VAT) |
| Transaction Conditions | •Contract terms: 20 years, Total contract value: SAR 1,199,299,500 (excluding VAT). •A “Triple Net” lease agreement under which the tenant is responsible for operations, maintenance, and facilities management. •A 9-month grace period commencing from the tenant’s handover/receipt of the compound |
| Parties of the Transaction | Saudi Real Estate Company (the Landlord) AMSA View For Hotels Apartments (the Tenant) |
| Date of Entering Into The Transaction | 2026-02-18 Corresponding to 1447-09-01 |
| Description of Activity of The Asset Subject of The Transaction | The compound comprises a total of 240 residential units, including 176 apartments, 64 villas, and townhouses, in addition to a commercial showroom in the Diplomatic Quarter in Riyadh, The compound is currently in the final stages of construction. |
| Transaction reasons | Asset leasing represents a core part of Al Akaria’s business, and the contract is expected to support the growth of its operations and profitability |
| Expected Impact of the Transaction on the Company and Its Operations | It is expected that the transaction will have a financial impact starting from the fourth quarter of 2026 on the Company’s financial statements through generating rental cash flows. |
| 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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