Logo of MEFIC REIT
Middle East Financial Investment Co. (MEFIC Capital), in its capacity as the manager of MEFIC REIT, completed today, Oct. 9, the sale of the Al-Andalus Building located in Jeddah in a deal worth SAR 40 million. 
In a statement to Tadawul, the company stated that all legal and regulatory procedures have been successfully finalized, full sale proceeds have been received, and the ownership of the property has been transferred to the buyer. It expects the related financial impact to be positive.
There are no related parties involved in the deal, it noted.
According to Argaam’s data, the company signed, on July 24, a preliminary agreement (earnest money contract) to sell the Al-Andalus property in Jeddah for a total value of SAR 40 million, excluding real estate transaction tax and brokerage fees.
Logo of MEFIC REIT
Middle East Financial Investment Co. (MEFIC Capital), in its capacity as the manager of MEFIC REIT, completed today, Oct. 9, the sale of the Al-Andalus Building located in Jeddah in a deal worth SAR 40 million.
In a statement to Tadawul, the company stated that all legal and regulatory procedures have been successfully finalized, full sale proceeds have been received, and the ownership of the property has been transferred to the buyer. It expects the related financial impact to be positive.
There are no related parties involved in the deal, it noted.
According to Argaam’s data, the company signed, on July 24, a preliminary agreement (earnest money contract) to sell the Al-Andalus property in Jeddah for a total value of SAR 40 million, excluding real estate transaction tax and brokerage fees.
