Enma Alrawabi Company announces the signing of a lease contract for an educational complex with Riyadh Schools Holding Company.

Enma Alrawabi Company announces the signing of a lease contract for an educational complex with Riyadh Schools Holding Company.

Element List

Explanation

Transaction Details

Enma Alrawabi Company signed with the Riyadh Schools Holding Company a 25-year lease contract for an educational complex located in the Hittin district of Riyadh. The annual rent for the first year will be Twenty-Nine Million, Three Hundred and Twenty-Five Thousand Saudi Riyals only (29,325,000) including VAT then annual increments will be applied on the future payments.

Transaction Value

(1,001,676,427) One Billion, One Million, Six Hundred and Seventy-Six Thousand, Four Hundred and Twenty-Seven Saudi Riyals including Value Added Tax (VAT).

Transaction Terms

Leasing the subject property to the tenant (Riyadh Schools Holding Company) in accordance with the terms and conditions that were regulated between the two parties in the lease contract. Enma Alrawabi Company is obliged to prepare the subject property as requested by the tenant and the tenant is required to use the property as an educational complex.

Parties of the Transaction

1. Enma Alrawabi Company 2. Riyadh Schools Holding Company

Transaction Execution Date

2024-03-05 Corresponding to 1445-08-24

Description of the Business of the Asset forming the Subject Matter of the Transaction

Educational Complex.

Transaction