Riyadh Development transferred its wholesale center to an associate as part of a joint venture structure, with no financial impact recorded
Riyadh Development Co. announced completing the transfer of the contributed asset, Al Tameer Wholesale Center, to the associate, Deera Development for Real Estate Development and Investment Co., according to a statement to Tadawul. 
There is no relevant financial impact, the statement added.
In July 2024, the company revealed plans to establish a simplified joint-stock firm with Riyadh Holding Co. to develop the AlDirah district, as the company will hold a 46.34% stake in the new entity, through an in-kind contribution to Al Tameer Wholesale Center that is valued at nearly SAR 675 million.
Riyadh Development shareholders approved in August 2024 setting up the new firm.
Riyadh Development transferred its wholesale center to an associate as part of a joint venture structure, with no financial impact recorded
Riyadh Development Co. announced completing the transfer of the contributed asset, Al Tameer Wholesale Center, to the associate, Deera Development for Real Estate Development and Investment Co., according to a statement to Tadawul.
There is no relevant financial impact, the statement added.
In July 2024, the company revealed plans to establish a simplified joint-stock firm with Riyadh Holding Co. to develop the AlDirah district, as the company will hold a 46.34% stake in the new entity, through an in-kind contribution to Al Tameer Wholesale Center that is valued at nearly SAR 675 million.
Riyadh Development shareholders approved in August 2024 setting up the new firm.
