Al Mashaar REIT has signed a SAR 135 million investment deal to acquire the fully occupied 'i-Offices' commercial property in Riyadh, enhancing its portfolio with prime real estate assets.

Information on the Target

Al Mashaar REIT is set to invest SAR 135 million into a commercial property named “i-Offices,” located in the City of Riyadh. This investment involves the acquisition of three Class A commercial office towers situated on a prime site, next to the renowned Aliya Plaza Complex in the Rabeea District. The property is fully occupied and strategically positioned, making it a valuable addition to the REIT's portfolio.

The three towers boast a total land area of 6,155 square meters and a built-up area of 23,195 square meters, with a gross leased area of 10,700 square meters. Key tenants include reputable companies such as Al Rajhi Takaful and Amlak International, making the property an attractive income-generating asset with an annual rental income of SAR 10.45 million.

Industry Overview in Saudi Arabia

The commercial real estate sector in Saudi Arabia has experienced robust growth due to increasing urbanization and economic diversification efforts under the Vision 2030 initiative. The demand for premium office space has surged