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Noura Al-Saleh
What are the tenant's key obligations in the Unit G12 lease, and when does it expire?
Nawadi assistant
The Unit G12 lease at Salhiya Complex runs for five years from 1 March 2026 and expires on 28 February 2031. The tenant's main obligations are: 1. Pay annual rent of KWD 96,000 in four quarterly instalments, in advance. 2. Maintain the demised premises internally, including all finishes and fit-out installed by the tenant. 3. Hold public liability insurance of not less than KWD 500,000 for the full term. 4. Obtain written landlord consent before any alteration, assignment or sub-letting. 5. Trade continuously during mall operating hours and contribute to the service charge and marketing fund. The rent is subject to review at the end of year three, capped at a 10% increase.
Noura Al-Saleh
How does that compare to the previous 2021 lease for the same unit?
Nawadi assistant
The 2021 lease for the same unit carried an annual rent of KWD 78,000, so the new agreement represents a 23% uplift. Two other changes are material: the rent review cap moved from 8% to 10%, and the tenant now carries responsibility for internal mechanical maintenance, which sat with the landlord in the earlier agreement. The insurance requirement is unchanged at KWD 500,000.