Addendum Announcement from Osool & Bakheet Investment Company regarding of leasing Al Rabie GENX

Thursday, May 27, 2021 at 9:00 AM

Date of the previous announcement:

14/10/1442H corresponding to 26/05/2021G


URL of the Previous Announcement:


Description of the Event:

Further to the announcement of Osool & Bakheet Investment Company published on 14/10/1442H corresponding to 26/05/2021G, concerning of signing of a lease contract for hospitality units available in Al Rabie GENX, Osool & Bakheet Investment Company would like to clarify that the previous lease contract with "Gulf ELCON Company for Trading and Contracting" consists of hospitality units and 4 showrooms from 7 showrooms in the same property with a total value of 3.750 million (three million seven hundred fifty thousand Saudi riyals) for the lease contract, where the last announcement concerns leasing the hospitality units with a value of 2.2 million( two million and two hundred thousand Saudi riyals).
Also the fund manager clarify that the showrooms has been fully leased out during the previous months, so the occupancy rate for the property is 100% with total value of 3,170,000 ( three million one hundred seventy thousand Saudi riyals).


The Impact Caused by the Event:

Not applicable