Would Hejaz share any profit or loss as a result of selling the property?

Under Sharia, Ijara and Murabaha are considered contracts of exchange (i.e. exchange of right to occupy/use asset for payment of rent/lease or exchange of asset for deferred sale price) and not contracts of participation (i.e. where the parties share the profit or loss in a venture).

As such, Hejaz is not entitled to share the profit arising from the sale of the property during the Ijara term and is similarly not required to share the loss.