Meyar inks SAR 840,000 land lease contract in Riyadh

10/08/2023 Argaam

Meyar debuts on Nomu today

Logo of Meyar Co.

Meyar Co. signed today, Aug. 10, a land lease contract in Riyadh, with an area of 1,110 sqm, at a total value of SAR 840,000, according to a statement to Tadawul.

 

The lease period begins on Aug. 15, 2023 and ends on Aug. 14, 2030, said the company, adding that the land will be used as a sales point and an exhibition for the company’s products.

 

The lease contract aims to increase the company's sales and expand the scope its sales by adding new points of sale in Riyadh to accommodate the production capacity of the new production lines.

 

Meyar also noted that the related financial impact and its operations are expected to reflect during 2024.

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