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Banan Real Estate Company announces the signing of a full lease contract for one of the company’s owned properties (furnished apartments building).In Al-Sulimaniyah District (for five years with The International Company for Hospitality Services.
04/04/2023
| Element List | Explanation |
|---|---|
| Introduction | Banan Real Estate Company announces the signing of a full lease contract for one of the company's owned properties (furnished apartments building).In Al-Sulimaniyah District (for five years with The International Company for Hospitality Services. |
| Date of Announcement of the Award | 2021-12-01 Corresponding to 1443-04-26 |
| Contract Subject Matter | Rent furnished apartments building for five years |
| Date of Signing the Contract | 2021-12-01 Corresponding to 1443-04-26 |
| Contract Value | 10 million Saudi Riyals |
| Contract Details | Rent furnished apartments building in Al-Sulimaniyah District , That wholly owned by Banan Real Estate Company - The total contract value is 10 million riyals at an annual rent A value of 2 million riyals to be paid in two installments every 6 months. Every installment is one million riyals - the rental period starts on January 1 2022 AD and ends on December 31, 2026 |
| Contract Duration | 5 years |
| Financial Impact and the Relevant Period | It is expected that this contract will have a positive financial impact on Revenues and results of the company as of the first quarter of the year The current fiscal 2022 AD |
| Related Parties | The International for Hospitality Services |
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