Al Khaleej Training and Education has sold a 4,360 sq m administrative building in the Al Ghadir area, Riyadh for SAR 75 million, the company said in a statement to the Saudi bourse.
Al Khaleej has been paid SAR10 million at the contract signature date, and the remaining SAR 65 million will be received once the building is vacated by Al Khaleej.
The company expects to book a capital gain of cSAR16.1 million from the transaction, and the proceeds will be used to finance its expansions in the education sector.