Alandalus Property Co. Announces Lease Yasmine Alandalus office Building to Expenditure & Projects Efficiency Authority in the value of 114,330,758 Saudi riyals Including VAT tax For five years renewable

Alandalus Property Co. Announces Lease Yasmine Alandalus office Building to Expenditure & Projects Efficiency Authority in the value of 114,330,758 Saudi riyals Including VAT tax For five years renewable

Element List

Explanation

Introduction

Reference to the announcement of Alandalus Property Co. on the Tadawul website dated 18/02/1445 corresponding to 03/09/2023 regarding the purchasing of an office tower in the city of Riyadh, which is wholly owned by the company. Alandalus Property Co. announces the signing of a lease contract for the Yasmine Alandalus office building to Expenditure & Projects Efficiency Authority

Transaction Details

Fully leasing the Yasmine Alandalus office building in the Yasmine neighborhood in Riyadh, which is fully owned by Alandalus Property Co. for a period of five Gregorian years Renewable with A total rental value is 114,330,758 Saudi riyals Including VAT tax, with an annual rent of 22,866,151.50 Saudi riyals Including VAT tax. It is paid in one payment at the beginning of each rental year.

Transaction Value

114,330,758 Saudi riyals Including VAT tax

Transaction Terms

The rental period begins on (After passing four free months, starting from the date of signing the handover minutes)

Parties of the Transaction

1-Alandalus Property Co. ( The lessor) 2- Expenditure & Projects Efficiency Authority ( the Tenant )

Transaction Execution Date