Riyadh – Mubasher: Arab Sea Information Systems Company has purchased an office tower from Mohammed Saleh Al Suhaibani at a value of SAR 59 million, according to a bourse filing.

The company entered into the agreement on 4 June 2024 to make the real estate asset its headquarters.

Located in Al Sahafa District, the tower consists of 23 floors, with a total area of ​​6,510 square metres.

Subject to the general assembly’s approval, Arab Sea will finance the deal through its own resources.

The Tadawul-listed firm highlighted that the deal will increase its non-current assets, adding that it will disclose any further developments.  

In December 2023, Arab Sea penned a SAR 14.92 million agreement with King Abdulaziz University.