Logo ofDar Albalad for Business Solutions Co. (DBS)
Dar Albalad for Business Solutions Co. (DBS) signed an agreement to purchase office units in an under-construction project in Riyadh’s Al Mohammadiyah district for approximately SAR 19.43 million to serve as its headquarters. 
In a statement to Tadawul, DBS said it will purchase office units with a total area of 925.14 square meters from Liwan Real Estate Development Co. The transaction will be financed through the company’s internal resources.
The company said the purchase follows its business expansion and growing workforce, which have created a need to expand its headquarters in line with its operations and future growth plans.
DBS’s board approved purchasing the units rather than leasing them after considering real estate market conditions and rising office rental rates. A cost assessment showed that purchasing the units would be more sustainable and economically viable than leasing, the company said.
The transaction is expected to increase the company’s non-current assets by the value of the deal and related costs.
DBS said no related parties were involved in the transaction and that it would announce any material developments in due course.
Logo ofDar Albalad for Business Solutions Co. (DBS)
Dar Albalad for Business Solutions Co. (DBS) signed an agreement to purchase office units in an under-construction project in Riyadh’s Al Mohammadiyah district for approximately SAR 19.43 million to serve as its headquarters.
In a statement to Tadawul, DBS said it will purchase office units with a total area of 925.14 square meters from Liwan Real Estate Development Co. The transaction will be financed through the company’s internal resources.
The company said the purchase follows its business expansion and growing workforce, which have created a need to expand its headquarters in line with its operations and future growth plans.
DBS’s board approved purchasing the units rather than leasing them after considering real estate market conditions and rising office rental rates. A cost assessment showed that purchasing the units would be more sustainable and economically viable than leasing, the company said.
The transaction is expected to increase the company’s non-current assets by the value of the deal and related costs.
DBS said no related parties were involved in the transaction and that it would announce any material developments in due course.
