Lamasat signs MoU with RCJY to lease land plot

18/02/2025 Argaam
Logo ofLamasat Co.

Logo of Lamasat Co.

Lamasat Co. signed on Feb. 7 an investment agreement with the Royal Commission for Jubail and Yanbu (RCJY) to lease a commercial land plot in Yanbu for 20 years to establish a new branch, according to a statement to Tadawul..
 
 

The land covers an area of 418.9 square meters, with an annual rental value of SAR 16,800 per Hijri year.

 

Lamasat stated that the financial impact will be seen in increased company revenues in the coming years, with this expected to occur in the second quarter of 2026.

 

The company said it will announce later the development of this project, noting that there are no related parties.

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