Nofoth Food Products Acquires Land in Riyadh for New Headquarters

Nofoth Food Products Company announced on Thursday its acquisition of a mixed-use commercial and residential land in the Hittin neighborhood of Riyadh. The purchase is part of the company’s strategic plan to expand its operations and establish its headquarters.

The acquired land spans an area of 1,580.37 square meters, with the transaction valued at SAR 22.12 million (excluding real estate transaction tax and pursuit fees). The deal will be financed through the company’s internal resources.

In a statement on “Tadawul,” the company outlined its intention to develop the property into new commercial offices that will serve as its headquarters.

The acquisition will increase the company’s fixed assets, positively impacting financial ratios such as Return on Assets (ROA). The land also represents a strategic investment with potential for future value appreciation, enhancing the company’s asset valuation and net worth.

Additionally, owning the property will eliminate recurring rental costs and shield the company from future rental price fluctuations, thereby supporting financial sustainability and operational stability.