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Jarir pens SAR 98m deal with Jarir Real Estate

Jarir pens SAR 98m deal with Jarir Real Estate
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Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstore) has signed a contract worth SAR 97.92 million with Jarir Real Estate Company on 25 October to sell an asset in Riyadh.

The listed Jarir will sell a land plot spanning 10,542 square metres to the real estate firm, according to a bourse disclosure on Tuesday.

The expected financial impact of this contract is a profit worth SAR 38.49 million, which will reflect on the income statements of the fourth quarter (Q4) of 2021.

Jarir did not disclose the duration of the contract nor further details.