‎“Retal” sells a commercial building in Dammam for 28 million ‎riyals

“Retal Urban Development” announced the sale of a commercial building developed by the company on land located in the city of Dammam, Al-Faisaliah district, for 28 million riyals, without any conditions or preferential benefits.

The company said that the estimated book value of the asset amounted to 27.5 million riyals, and it expects to achieve profits estimated at approximately 500,000 riyals, and the proceeds will be used within the scope of ongoing development projects.

Through this deal, Retal aims to focus on ongoing development projects that have a higher return compared to the expected return from leasing a commercial building.

Related parties:

Chairman of the Board of Directors, Abdullah bin Abdul Latif Al-Fawzan, Vice Chairman of the Board of Directors, Ali bin Abdul Latif Al-Fawzan, member Fawzan bin Muhammad Al-Fawzan, and member of the Executive Committee, Abdul Latif bin Ali Al-Fawzan.

It is worth noting that the parties to the deal:

Retal Urban Development Company and Al-Fozan Holding Company.