| Introduction
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Al-Rashed Industrial Company announces the purchase of two plots of land in the New Industrial City neighborhood in Riyadh.
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| Transaction Details
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Referring to the auction held by Nasser Fahad Al-Jofan Foundation under the supervision of the Attribution and Liquidation Center (Infath) and the decision of the Execution Court for the sale of real estate in the city of Riyadh, and where Al-Rashed Company for Industry entered into the auction on two adjacent plots of land in the New Industrial City neighborhood in Riyadh with a total area of 8,477 square meters, and a total amount of 8,566,950 Saudi riyals, the area of the first plot is 3,808 square meters and the area of the second plot is 4,669 square meters, and accordingly the two plots of land were awarded to Al-Rashed Company for Industry And the termination of the procedures of sale, transfer of ownership and emptying.
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| Transaction Value
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8,566,950 (eight million five hundred and sixty-six thousand nine hundred and fifty Saudi Riyals)
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| Transaction Terms
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None
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| Parties of the Transaction
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Seller: Court of Execution.
Auction Supervision: Attribution and Liquidation Center.
Buyer: Al-Rashed Company for Industry.
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| Transaction Funding Method
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of the company's liquidity.
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| Transaction Execution Date
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2023-09-27 Corresponding to 1445-03-12
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| Description of the Business of the Asset forming the Subject Matter of the Transaction
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Warehouses
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| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction
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Do not apply
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| Transaction reasons
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To support the company's investment plans to establish central warehouses in the Riyadh region
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| Expected Impact of the Transaction on the Company and Its Operations
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It will raise the efficiency of storage, shipping and distribution processes for the company's products.
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| Related Parties
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None
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العربية
