Al-Baha Subsidiary signs contract to lease hypermarket in Riyadh at SAR 15 mln

Al Baha Investment and Development Company announced on Sunday to the shareholders that its subsidiary (Ishraqh Regional Real Estate Development and Investment Company) has signed a lease contract hypermarket with a total value of SAR 15,062,355, including value-added tax in Riyadh.

The Company said that the lease contract for a 3,000-square-meter hypermarket for a period of eight years, this to diversify the company’s sources of income and increase its revenues.

It is expected that the financial impact of the company and its operations will appear during the third quarter of 2023, God willing

Parties of the Transaction:

Lessor: Ishraqh Regional Company for Real Estate Development and Investment – the subsidiary of the Group.

Tenant: Panda Retail Company