Musharaka REIT signs 5-year binding lease at SAR 32.4 mln for Al Baraka warehouses

Logo of Musharaka REIT Fund

Musharaka Capital, the fund manager of Musharaka REIT Fund, announced the signing of a binding lease contract with one of the global logistics companies to rent the entire area of Al Baraka warehouses.

Al Baraka warehouses, spanning 29,950 square meters, will be leased for SAR 32.40 million for the entire period.  

The contract term is five years of binding lease, starting from Aug. 1, 2022, until July 31, 2027, as the average annual rent amounted to SAR 6.48 million. Musharaka REIT Fund’s financials will be positively impacted as of Q3 2022, as the deal will enhance the fund's revenues on a yearly basis.