Riyadh · Commercial

Riyadh Tech Park Offices

Grade A office campus anchored by a sovereign-backed technology tenant on a 7-year lease.

12 Bathrooms
120 Parking
18,450 m² Built-up area
AAA Tenant 5 yr lease
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In pictures

Riyadh Tech Park Offices

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Key highlights

  • ✓Anchor tenant signed until 2031 with 3% annual escalations
  • ✓Strategic location near Riyadh metro line 3
  • ✓Diversified rent roll with blended WAULT of 6.2 years
  • ✓Net yield of 8.4% with potential upside from expansion options
Investment thesis

Mission-critical tenancy with index-linked escalations and strong government support for Riyadh tech corridor.

Documents

Independent valuation
Valuation
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Tenant covenant summary
Leases
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Engineering report
Technical
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Timeline

  1. First rent collected

    AED 4.2m quarterly rent received

    Sep 2024
  2. Tenant fit-out complete

    High-spec HQ fit-out delivered by Khidmah

    Jul 2024

FAQs

Yes, tenant activities are technology R&D and verified by our Sharia board.

Target exit year 5 via strategic sale; investors share pro-rata capital gains.
Financial snapshot
Annual gross rent
16,800,000.000
Net operating income
12,950,000.000
Target IRR
16.4%
Target hold period
5 years
Occupancy
100%
Fee summary
Acquisition fee: 1.5%
Management fee: 1.8%
Exit cap rate: 7.1%
SPV information

Mushaa Riyadh Offices SPV 1

Escrow account: Al Rajhi Escrow 88201

Risk summary

Tenant concentration risk mitigated through sovereign guarantee.

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Location overview

King Abdullah Financial District, Riyadh, Saudi Arabia

Explore the neighbourhood, connectivity, and surrounding amenities.

City & country
Riyadh, Saudi Arabia
Asset type
Commercial
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