Al-Baha’s unit signs hypermarket rental contract worth SAR 15.1 mln

20/08/2023 Argaam

Al-Baha’s unit signs hypermarket rental contract worth SAR 15.1 mln

Logo of Al-Baha Investment and Development Co.

Al-Baha Investment and Development Co. announced that its subsidiary, Ishraqh Regional Real Estate Development & Investment Co., signed on Aug. 17 a lease for a hypermarket at a value of SAR 15.06 million, including VAT.

 

In a statement on Tadawul, the company added that the hypermarket, which spans over an area of 3,000 square meters (sqm), is located in Riyadh and leased to Panda Retail Co.

 

The deal is aimed at diversifying the company's sources of income and enhancing its revenues.

 

The financial impact is expected to show by Q3 2023, the statement noted.

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