‎2 land plots at Masar sold for SAR 228.4M

‎2 land plots at Masar sold for SAR 228.4M ‎2 land plots at Masar sold for SAR 228.4M

​‎

Logo ofUmm Al Qura for Development and Construction Co.

Umm Al Qura for Development and Construction Co., the owner, developer and operator of Masar Destination, sold two land plots within Masar for SAR 228.4 million, excluding any associated taxes and fees which are borne by the buyer.

Advertisement

In a Tadawul statement, the company said the two plots span 7408,580 square meters (sqm), and their book values reach SAR 39.39 million.

Details
Item
Details
Buyer
Arabian Dyar Real Estate Development Company
Sale value of first land plot
SAR 112.65 mln
Book value of first land plot
SAR 44.68 mln
Sale value of second land plot
SAR 115.76 mln
Book value of second land plot
SAR 48.70 mln
Reasons for the transaction
Executing the development strategy for Masar Destination through development of two residential towers by the buyer
Financial impact
Positive impact on liquidity and financial results
Use of proceeds from asset sale
Financing working capital and ongoing projects

 

Logo ofUmm Al Qura for Development and Construction Co.

Umm Al Qura for Development and Construction Co., the owner, developer and operator of Masar Destination, sold two land plots within Masar for SAR 228.4 million, excluding any associated taxes and fees which are borne by the buyer.

In a Tadawul statement, the company said the two plots span 7408,580 square meters (sqm), and their book values reach SAR 39.39 million.

Details
Item
Details
Buyer
Arabian Dyar Real Estate Development Company
Sale value of first land plot
SAR 112.65 mln
Book value of first land plot
SAR 44.68 mln
Sale value of second land plot
SAR 115.76 mln
Book value of second land plot
SAR 48.70 mln
Reasons for the transaction
Executing the development strategy for Masar Destination through development of two residential towers by the buyer
Financial impact
Positive impact on liquidity and financial results
Use of proceeds from asset sale
Financing working capital and ongoing projects
Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with our Weekly Newsletter

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Advertisement