Bonyan REIT signs SAR 121.4M lease contract for Al Rafiah Village Compound

25/01/2024 Argaam
Logo of Bonyan REIT Fund

Logo of Bonyan REIT Fund

Saudi Fransi Capital, the manager of Bonyan REIT Fund, announced the signing of a new lease contract for Al Rafiah Village Compound for a period of five years and six months at a total value of SAR 121.4 million. 

 

The contract will be effective as of Feb. 1, the fund manager said in a statement to Tadawul. 

 

The contract is expected to have a positive financial impact on the fund’s profitability, the statement added, indicating that the property will maintain a 100% occupancy rate. 

 

According to data available on Argaam, the fund manager announced in November 2022, after receiving a notification from the tenant of Al Rafiah Village Compound that it does not plan to renew the lease contract that will expire on May 4, 2024.

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