Asas Makeen Real Estate Development and Investment Co. Announces the Purchasing of a land plot in Al-Aaridh district, Riyadh, with an area of 8,800 m² in the amount of SAR52,976,000
| Element List | Explanation |
|---|---|
| Transaction Details | Purchase of a land plot with an area of 8,800m² in Al-Aaridh district, Riyadh. |
| Transaction Amount | SAR52,976,000 |
| Transaction Conditions | None |
| Parties of the Transaction | Seller: Abdulrahman Rashid Hamad Al-Hamlan
Buyer: Asas Makeen Real Estate Development and Investment Co. |
| Transaction Financing Method | The transaction financing will be through bank financing in addition to a portion from the company’s own resources. |
| Date of Entering Into The Transaction | 2025-08-28 Corresponding to 1447-03-05 |
| Description of Activity of The Asset Subject of The Transaction | Real estate development |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not applicable |
| Transaction reasons | Development of the land and construction of residential units for sale with ownership rights. |
| Expected Impact of the Transaction on the Company and Its Operations | The financial impact of this transaction is expected to be reflected as an increase in projects under development within current assets, with the impact anticipated to materialize during 2026. |
| Related Parties | Not applicable |
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