‎Raydan signs SAR 8M sale-leaseback deal for branch in Jeddah

Raydan Food Co.signed a binding agreement with Basheer Noor Al Din Al Haddad Partners to sell its Hira branch in Jeddah’s Al-Nuzha district for SAR 8 million, excluding tax, representing about 10.94% of the company’s capital.

In a statement to Tadawul, the company said the asset’s book value stood at SAR 10.18 million based on the latest reviewed interim financial statements for the period ended Sept. 30, 2025, representing 13.92% of capital.

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The value comprises SAR 4.33 million for land and SAR 5.86 million for buildings and improvements.

Raydan said it simultaneously entered into a 10-year long-term lease for the same branch under a sale-and-leaseback transaction, with total annual rent of SAR 700,000.

The company emphasized that the sale-and-leaseback transaction is interdependent.

Raydan Food Co.signed a binding agreement with Basheer Noor Al Din Al Haddad Partners to sell its Hira branch in Jeddah’s Al-Nuzha district for SAR 8 million, excluding tax, representing about 10.94% of the company’s capital.

In a statement to Tadawul, the company said the asset’s book value stood at SAR 10.18 million based on the latest reviewed interim financial statements for the period ended Sept. 30, 2025, representing 13.92% of capital.

The value comprises SAR 4.33 million for land and SAR 5.86 million for buildings and improvements.

Raydan said it simultaneously entered into a 10-year long-term lease for the same branch under a sale-and-leaseback transaction, with total annual rent of SAR 700,000.

The company emphasized that the sale-and-leaseback transaction is interdependent.