Saudi Arabia’s Sumou Real Estate has signed a 35-year-long lease agreement with Saudi Airlines Real Estate Development Company (SARED) for a 78,374 sq m land plot in Jeddah. As per the deal, Sumou will develop an integrated mixed-use project on the land, located in the southwestern corner of a master-planned area.
Cenomi Centres, a leading developer of contemporary lifestyle destinations in Saudi Arabia, said it has signed an agreement with Saudi Downtown Company, a unit of the kingdom's sovereign wealth fund PIF, for the leasing and operation of its new flagship destination in the city of Al Khobar.
The Saudi Ports Authority (Mawani) has announced that it has signed a lease agreement with Sultan Logistics, a leading player in the kingdom's freight sector, for the development of a 200,000-sq-m logistics park at Jeddah Islamic Port for a total investment of SAR250 million ($66.5 million).
Saudi Real Estate Company (Al Akaria) has signed a 20-year lease agreement with Amsa Hospitality for the Amsa Vue Residential Compound in Riyadh, with the total value of the project estimated at around SR1.2 billion ($320 million), an Arab News report said.
Diriyah Company, the developer of Saudi Arabia's premier historical, cultural, and lifestyle destination, has entered into a lease agreement with Apple to open an iconic retail store at its premier retail district - Diriyah Square - within the City of Earth.
King Saud University has announced that its investment arm Riyadh Valley has signed an agreement with Diriyah Company to lease 552,000 sq m of land for 70 years, enabling the company to develop the area within Phase Two of the Diriyah Project (D2).
Chalhoub Group, a premier luxury retailer in the Middle East, said it has signed a solar lease agreement with Yellow Door Energy, a leading provider of sustainable energy solutions, to bring clean electricity to the Group's key fulfilment hub in Riyadh.
Kerry, a leading Irish sustainable taste and nutrition solutions company, has signed a long-term lease deal with Expo City Dubai to set up its new Regional Customer Co-Creation Centre. The new Kerry facility will serve as a major research and development centre.
Saudi oil giant Aramco has announced the completion of an $11 billion lease and leaseback investment deal for its Jafurah gas processing facilities with a consortium of investors led by funds managed by Global Infrastructure Partners, a part of BlackRock.
