Alkhorayef Water inks SAR 41.7 mln 5-year building lease contract

03/10/2022 Argaam

Alkhorayef Water inks SAR 41.7 mln 5-year building lease contract

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. signed, on Oct. 2, a building lease contract with Inma Alasima for Real Estate Development Establishment for SAR 41.69 million, including value-added tax (VAT). 

 

The contract includes renting new building in Scheme No. 2413, Al-Sahafa District, Riyadh, to be used as the headquarters of the company for five years starting from April 1, 2023, the company said in a bourse statement. 

 

Alkhorayef Water will pay SAR 8.34 million annually. 

 

The financial impact will reflect on Q4 2022, the statement added, noting that there are no related parties to the deal. 

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