Alkhorayef terminates building lease contract worth SAR 41.7 mln

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. announced that it reached, on Oct. 18, an agreement with Inma Alasima for Real Estate Development Establishment to terminate the building lease contract, according to a statement to Tadawul.

The termination includes all contract terms and dues, as per the mutual interests of both parties.

Alkhorayef signed, on Oct. 2, a building lease contract with Inma Alasima for SAR 41.69 million, including value-added tax (VAT), according to data available with Argaam.

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.