SAUDI ARABIA: Derayah REIT, which is managed by Derayah Financial, has leased a tower located in Al Olaya District in Riyadh to a master tenant for a period of 15 years, with a grace period of 12 months. The rent will start at SAR5.5 million (US$1.46 million) and go up to SAR7.5 million (US$2 million) over the lease term, with average annual rent at SAR6.5 million (US$1.73 million).
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