A subsidiary of “Banan Real Estate” renews a contract with ‎‎“Fad Equipment” for 1.33 million riyals

Banan Real Estate announced that its subsidiary, Al-Aziza Real Estate Investment and Development Company, renewed an office and warehouse rental contract in the city of Riyadh with “Fad Mechanical and Electrical Equipment” at a value of 1.33 million riyals, including the value of value-added tax. It is paid in two installments each calendar year, as the lease period begins on January 1, 2024 and ends on December 31, 2025.

The company said in a statement today on “Tadawul” that it is expected that this contract will have a positive financial impact that will be reflected in revenues and financial results as of the first quarter of the fiscal year 2024 AD, indicating that the relevant parties are: Abdul Mohsen Abdul Aziz Saleh Al-Haqbani, Chairman of the Board of Directors, Ahmed Abdul-Rahman Abdul-Aziz Al-Haqbani, Vice Chairman of the Board of Directors, and Faisal Muhammad Abdul-Aziz Al-Haqbani, Member of the Board of Directors.