Arriyadh Development sells parts of Tanal lands for SR250mln

Arriyadh Development Company announced that it received a letter on in March 30^th 2022 AD from Tanal Investment and Real Estate Development Company – an associate company – stating that parts of the Tanal lands have been sold with a total area of ​​(151,468 m2) with a total value of SR 249.922 million in addition to the buyer bearing the tax on real estate transactions, and emptying procedures have been started.

Arriyadh Development Company’s share of those sales is 69.38%, and the company will achieve total profits from these sales estimated at about (81 million riyals), its financial impact appears during the first and second quarters of 2022 AD.