Logo ofThe Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF)
The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) signed a contract to sell a vacant land plot for SAR 52.2 million (excluding the real estate transaction tax and the brokerage fees), according to a statement to Tadawul.
The land plot, spanning 3,999.9 sqm, is located in Al-Sulaimaniyah district in Riyadh and has a book value of SAR 30 million.
The sale aimed to support the company’s financial and investment activities, in addition to enhancing the growth plans.
The deal is expected to have a positive impact on the company’s financial results in the fourth quarter of 2024.
The deal will likely generate a capital gains of SAR 22.2 million, the statement added.
Logo ofThe Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF)
The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) signed a contract to sell a vacant land plot for SAR 52.2 million (excluding the real estate transaction tax and the brokerage fees), according to a statement to Tadawul.
The land plot, spanning 3,999.9 sqm, is located in Al-Sulaimaniyah district in Riyadh and has a book value of SAR 30 million.
The sale aimed to support the company’s financial and investment activities, in addition to enhancing the growth plans.
The deal is expected to have a positive impact on the company’s financial results in the fourth quarter of 2024.
The deal will likely generate a capital gains of SAR 22.2 million, the statement added.
