Marble Design subsidiary purchases two plots of land to build gallery and warehouse for SAR 4.9 million

Tariq al-Maskan Company for Real Estate Development, a company (100%) owned by Marble Design Factory Company, purchased two plots of land for SAR 4.9 million “excluding real estate transaction tax and brokerage fees” to build a gallery and warehouse for the company to display and store the company’s products to support the company’s expansion plans.

The company clarified that the purchased plots are plot no. (248) with an area of 3500 square meters and plot No. (250) with an area of 3815 square meters from Block No. 19 of Industrial Plan No. 269 located in Sudus Area with a total area of 7315 square meters for both lands.

The company expects that the financial impact of this transaction will be reflected in the increase in the non-current assets item in the final statement of financial position for the fiscal year 2023 and upon the completion of the project.

Parties of the Transaction:

Seller / Mr. Mohammed bin Abdulrahman bin Ibrahim Al-Muammar.

Buyer / Tariq al-Maskan Company For Real Estate Development