MEDGULF Sells Vacant Land in Riyadh for SAR 52.18 Million

The Mediterranean and Gulf Insurance and Reinsurance Company (MEDGULF) announced on Wednesday the signing of a contract to sell a plot of land owned by the Company, with an area of 3,999.9 sqm, located in Al-Sulaimaniyah district in Riyadh, for 52.18 million riyals.

It explained that the statement of the book value of the asset amounted to 30 million riyals, in support of the Company’s financial and investment activities.

MEDGULF expects the deal to have a positive impact on its financial results during the fourth quarter of 2024