JAZAN DEVELOPMENT SELLS RESIDENTIAL LAND AT SR 36 MILLION

30/01/2013 Argaam

Jazan Development Company (JAZADCO) announces the sale of three pieces of residential land on 18/3/1434H corresponding to 30/1/2013 of a total area of 110,823 Sqm to a Saudi national company.

 The total land area was sold for SR 325 per Sqm, the total revenue generated from the transaction is SR 36,017,355 and the realized profit from this deal is SR 18,989,114.

The transaction will be reflected in the 1th quarter 2013 financial results and the money generated will be used to finance the company's under construction real estate projects and to meet other commitments. 

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