Al Maather REIT says Al Sahafa building 1 tenant to renew contract for SAR 3.8 mln

07/09/2021 Argaam

Logo of Al Maather REIT Fund

Osool & Bakheet Investment Co., the fund manager of Al Maather REIT Fund, announced receiving a letter from the General Directorate of Medical Services, Ministry of Interior, acting as a tenant of Al Sahafa Building 1, expressing desire to renew the contract for one year starting Aug. 31, 2021, for an annual rent SAR 3.8 million.

 

Accordingly, the property will continue to be occupied by the tenant for an additional year.

 

The positive impact is represented in the continuation of rental income from the property, the statement added.

 

In March, Osool & Bakheet received a letter from the General Directorate of Medical Services acting as a tenant of Al Sahafa Building 1, expressing a desire not to renew the contract expiring on Aug. 29, 2021, Argaam reported.

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