Inmaa AlRawabi purchases commercial building in Riyadh at SAR 37.5 mln

Enma AlRawabi Co. announced on Wednesday its purchase from Al-Ajlan Holding Company of a commercial building on 07-03-2023 in the city of Riyadh in Al Sahafah District, with an area of (2,500) square meters, for a total amount of SAR 37.500.000, as the transaction will be financed from the company’s own resources.

The Company said today on Tadawul that the transaction terms that the buyer bears are:

1- The Selling Commission.

2- Pay the real estate tax in accordance with the regulations.

Regarding the expected Impact of the Transaction on the Company and Its Operations, the company explained that it is represented in increasing investment properties and expected revenue increase by an amount equal to the value of the previous lease contract.

The Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction:

The property is leased with an annual contract of (SAR 1,200,000).