Al-Baha Investment andDevelopment Co. Announces AssetLease Its subsidiary (Ishraqh RealEstate Development andInvestment Company) rented ahypermarket in the value of15,062,355 Saudi riyals, includingvalue-added tax
| Element List | Explanation |
|---|---|
| Introduction | Al Baha Investment and Development Company is pleased to announce to the shareholders that its subsidiary (Ishraqh Regional Real Estate Development and Investment Company) has signed a lease contract for a 3,000 square meter hypermarket in riyadh. |
| Transaction Details | Signing a lease contract for a 3,000-square-meter hypermarket for a period of eight years, with a total value of 15,062,355 Saudi riyals, including value-added tax, starting from March 01, 2023. |
| Transaction Value | 15,062,355 Saudi riyals, including value-added tax |
| Transaction Terms | none |
| Parties of the Transaction | Lessor: ishraqh Regional Company for Real Estate Development and Investment - the subsidiary of the Group.
Tenant: Panda Retail Company |
| Transaction Execution Date | 2023-08-17 Corresponding to 1445-02-01 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | A hypermarket with an area of 3,000 square meters in riyadh |
| Transaction reasons | Diversifying the company's sources of income and increasing its revenues |
| Expected Impact of the Transaction on the Company and Its Operations | It is expected that the financial impact of the company and its operations will appear during the third quarter of 2023, God willing |
| Related Parties | none |
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