The quarterly results of Jadwa REIT Saudi Fund showed an increase in rental income by 6%, to reach 35.3 million riyals during the third quarter of 2020, compared to 33.4 million riyals in the quarter. Similar from last year.
According to Arabiya Net, operating expenses during the third quarter of this year stabilized at 4 million riyals compared to the comparative quarter of 2019.
and the Fund expected rents to decline within 4% of total annual rents, equivalent to approximately 5 million riyals for the year 2020, coinciding with the fund's receipt at the end of July Past requests to reduce rent temporarily from some tenants of their commercial real estate.
A new lease has been signed for the commercial exhibitions of the Aber Al-Yasmine Hotel property, bringing the occupancy rate to 100%.
