Riyadh – Mubasher: Abdullah Al Othaim Markets on Tuesday announced selling a shopping mall in Ha'el city at a value of SAR 361.26 million ($96.3 million).

The shopping mall’s area is 61,000 square metres, its selling price was received, and the ownership deed has been transferred, according to a statement to the Saudi Stock Exchange (Tadawul).

The transaction aims to focus on the main business of the company.

The expected impact of the deal is achieving SAR 112.77 profits after accounting zakat, and the profits will be used in financing the firm’s expansions and repaying some of its loans.