Headquarters Lease — Olaya Tower
- Value
- 14,250,000Before amendments:13,252,000
- Term
- 5 years2024-01-01 – 2028-12-311445-06-19 – 1450-08-15 AH
- Owner
- Saad Al-MutairiReal Estate & Facilities Manager
- Signature & renewal
- Qualified digital signatureAuto-renews180 days’ notice
- Draft2023-10-15
- Review2023-10-19
- Approval2023-10-20
- Signing2023-11-24
- Active2024-01-01
- Expiring
- Renew or end
Term elapsed 56% · ends in 809 days
Next step
Track delivery and obligations
Upcoming obligations and payments are in the Obligations tab. You will be alerted 90, 60 and 30 days before the notice deadline.
- Pay six-monthly rent in advance2026-11-23
- Periodic structural maintenance2026-12-08
- Renew the Civil Defence certificate2026-10-29
No open tasks
Waqqa AI assistant
Executive summary
A 5-year lease of 4 office floors in Olaya Tower, Riyadh, from Olaya Towers Real Estate at SAR 2,850,000 a year paid in two instalments, including 120 parking bays. It renews automatically for the same term unless either party gives 180 days' notice, with a fixed 3% annual escalation on renewal.
Summarised from 13 pages — check the source before relying on it.
Automated suggestion — a human makes the final call
Key terms
Extracted by the AI from the text — each value linked to its clause
- CounterpartyOlaya Towers Real Estate Company
- Total valueSAR 14,250,000 excl. VAT
- Term5 years: 1 January 2024 to 31 December 2028
- Payment termsRent paid six-monthly in advance through the Ejar platform
- Liability capCapped at one year of rent
- Renewal & noticeAuto-renews for a like term unless either party gives 180 days' notice
- Governing law & disputesSaudi law — arbitration at the Saudi Center for Commercial Arbitration, Riyadh
Risks
Automatic renewal
The contract renews unless we give notice 180 days ahead — make sure the owner is alerted.
MediumPersonal data protection
The contract does not state where data is hosted — PDPL requires processing inside the Kingdom.
Low
Key dates
Draft created
2023-10-1530 Rabiʻ I 1445 AH1,095 days ago
Fully signed
2023-11-2713 Jumada I 1445 AH1,052 days ago
Effective date
2024-01-0119 Jumada II 1445 AH1,017 days ago
- Next up
Bank guarantee expiry
2026-12-3122 Rajab 1448 AHin 78 days
Next payment — Six-monthly rent 7
2027-01-0123 Rajab 1448 AHin 79 days
Notice deadline
2028-07-0411 Safar 1450 AHin 629 days
End date
2028-12-3115 Shaʻban 1450 AHin 809 days
Related
Visible to the owning department and Legal