Owners and rentals
After handover, the developer or its manager looks after units for owners who live abroad, collects service charges and runs the owners' association.
Units managed86For owners living abroad
Average occupancy68%Last 12 months, sample
Average gross yield5.4%Sample estimate, not a forecast
Service charges collected82%Of this year's invoices
Portfolio
| Unit | Owner | Type | Occupancy | Gross yield (sample estimate) | Status |
|---|---|---|---|---|---|
| T2-1405 | Sample Owner, Birmingham | Two bedrooms | 71% | 5.8% | Let |
| T2-0803 | Sample Owner, Jakarta | One bedroom | 76% | 6.1% | Let |
| T2-1702 | Sample Owner, Kuala Lumpur | Three bedrooms | 58% | 4.6% | Let |
| T2-0511 | Sample Owner, Toronto | Studio | 81% | 6.4% | Let |
| T2-2001 | Sample Owner, Istanbul | Two bedrooms | 49% | 3.9% | Vacant this month |
| T2-1109 | Sample Owner, Leicester | Two bedrooms | 0% | Not yet let | Being furnished |
Occupancy and yield are sample estimates based on past bookings. They are not a promise of future income.
Service charges
Collected: SAR 1,102,000 of SAR 1,344,000 invoiced for 320 units.
Outstanding: SAR 242,000 across 57 units, of which 19 are more than 60 days late.
Owners' association
Next meeting: 9 December 2028, 19:00 Riyadh time, online and in the tower's meeting room.
2 votes open
Vote 1: approve the 2029 service charge budget. 141 of 320 owners have voted.
Vote 2: appoint Sample Facilities Co. as the facilities manager. 98 of 320 owners have voted.