Mubasher: A subsidiary of Alargan International Real Estate has modified the rental value for a current leasing contract on its investment properties.
The current leasing contract is still running with all its articles and conditions, except for the raise in the current contract’s value, according to a bourse filing issued on Wednesday.
Alargan added that its subsidiary has signed a new investment contract for the same properties for another 25 years starting on the date the current leasing contract expires.
The financial impact from this amendment will be realised in the consolidated financial statements of the period ending on 30 September 2017.
