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

25/01/2024 Argaam

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

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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