Fitaihi Group Sells Unutilized Commercial Building for SR18 mln

Fitaihi Holding Group announced on Tuesday that it has sold out an owned unutilized commercial building in Riyadh for an amount of SAR18 million.

The company said in a statement that the transaction comes within the strategic plan of Fitaihi Holding Group to maximize the shareholders’ equity, through efficient usage of the Company’s assets and resources.

Fitaihi Holding Group said that the positive financial impact of the above-mentioned sale will appear in the financial results of Fitaihi Holding Group for the fourth quarter of the Fiscal Year 2021.

“These sale proceeds will be used to further improve the return on equity in the Group and achieve its future directions in line with the aspirations of the Group’s shareholders.” the statement read.