SICO Capital Company Announces the Occurrence of Specific Event to SICO Saudi REIT Fund
SICO Capital in its capacity as the Fund Manager of SICO Saudi REIT announces leasing Eskan Hospitality Assets (Eskan 4, Eskan 5 and Eskan 6) to Moro International Company for Apartments and Hotels for a gross rental annual value of SR 10,580,000 and net rental annual value after value added tax of SR 9,200,000.
The duration of the lease contracts is for two years starting on 01/01/2024G and ending on 31/12/2025G.
Gross value of the lease contracts for the full contract period: SR 21,160,000
Net value of the lease contracts for the full period after deducting value added tax: SR 18,400,000