Cenomi Centers Sells Land in Al Kharj for SAR 100 Mln

Arabian Centres Co. (Cenomi Centers) announced on Wednesday the sale of a 425,390.72 square metre plot of land in Al Kharj for SAR 100 million (excluding Real Estate Transaction Tax and Brokerage Fees). This sale is part of its programme to sell a portfolio of non-core assets, with a total market value estimated at approximately SAR 2 billion.

The company stated in a statement today on Tadawul that the book value of this land in the company’s financial statements amounted to SAR 93.3 million as of March 31, 2025. The company indicated that the positive financial impact of the deal will be reflected in the financial statements starting from the second quarter of fiscal year 2025.

The company added that the proceeds from this deal will be used to inject and strengthen the company’s internal resources.