Al-Akaria Leases Al Reef Compound for SAR 1.2bn

ALAKARIA -0.23%

ALAKARIA

4020.SA

13.30

-0.23%

On February 19, 2026, Saudi Real Estate Co. ("Al-Akaria") announced the lease of Al Reef Residential Compound located in Riyadh's Diplomatic Quarter for SAR 1,199,299,500 (excluding VAT) over a 20-year term. The lease agreement was signed on February 18, 2026, with AMSA View For Hotels Apartments as the tenant under a "Triple Net" arrangement where the tenant handles operations, maintenance, and facilities management. The compound comprises 240 residential units (176 apartments, 64 villas and townhouses) plus a commercial showroom, currently in final construction stages. The transaction is expected to generate rental cash flows starting from the fourth quarter of 2026, supporting Al-Akaria's core asset leasing business and operational growth.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=93221&anCat=1&cs=4020&locale=ar

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