Al-Rajhi REIT's board appoints Sustainable Property to manage Al Narjes Plaza, Oasis Mall
Such change will become effective as of March 13, 2025, it added.
In a statement to Tadawul, the company said that, as for Al Narjis Plaza, this appointment will entail a property management fee of 8% of the rent collected, except for Tamimi Markets contract, which will be calculated as 5% of the rent collected until the end of the contract.
As for Oasis Mall, this appointment will entail a property management fee of 7.5% of the rent collected, except for Landmark Markets contract, which will be calculated as 5% of the rent collected until the end of the contract, in addition to SAR 25,000 per month plus 5% from the collected rents of the new tenants as marketing and leasing fee for one year only, it added.
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