Jodaya Investment Company, as the manager of the Jodaya REIT Saudi Arabia fund, announced the termination of the current lease agreement for the Today Tower located on King Fahd Road in the city of Dammam, and the fund signed a new master lease agreement for the entire Today Tower on 25\/03\/1443 H, corresponding to 31\/10\/2021. .
The Fund signed the agreement, under which the company WorleyParsons Engineering Consultancy was fully rented the Tower Today for an annual rental value of 16,146,993 Saudi riyals per year for the duration of the agreement, excluding VAT. As the previous agreement expires on 30\/09\/2022, and as agreement was reached between the owner and the tenant to sign a new agreement.
The duration of the agreement is 6 calendar years starting from 01\/08\/2021 and ending on 31\/07\/2027, provided that the tenant is entitled to terminate the agreement after 4 years from the beginning of the agreement\u2019s duration by giving written notice 9 months before the date of termination.
Juda\u00efya expected the rental value of the property to decrease from 25,263,192 to 16,146,993 riyals, representing a decrease of approximately 4.26% of the total annual income of the fund, considering that this effect is related only to the last year of the lease period under the previous agreement. Moreover, signing the new agreement ensures the continuity of the property\u2019s occupancy at 100% with a high-income tenant.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>Jadwa Investment Company, in its capacity as manager of the Jadwa Saudi REIT, announced the termination of the current lease agreement for Al-Youm Tower, located on King Fahd Road in Dammam, and the signing by the REIT of a new master lease agreement for the entire Al-Youm Tower on March 25,1443 AH, corresponding to October 31, 2021. The fund signed the agreement, under which WorleyParsons Engineering Consultants, in its capacity as \u2026 Read more<\/a><\/p>","protected":false},"author":11,"featured_media":33614,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[119],"tags":[],"class_list":["post-33599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-finance"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2.png",665,350,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2-150x150.png",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2-300x158.png",300,158,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2.png",665,350,false],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2.png",665,350,false],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2.png",665,350,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2.png",665,350,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2.png",18,9,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2-300x200.png",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2-600x350.png",600,350,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2.png",665,350,false],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/11\/E764B715-91FB-4E0B-9EF1-FB42AD3869F2.png",665,350,false]},"author_info":{"info":["\u0623\u0645\u0644\u0627\u0643 \u0627\u0644\u0631\u064a\u0627\u0636"]},"category_info":"\u062a\u0645\u0648\u064a\u0644 \u0639\u0642\u0627\u0631\u064a<\/a>","tag_info":"\u062a\u0645\u0648\u064a\u0644 \u0639\u0642\u0627\u0631\u064a","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/33599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=33599"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/33599\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/33614"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=33599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=33599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=33599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}