| 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 |
