Anaam completes office building ownership transfer procedures

Logo of Anaam International Holding Group

Anaam International Holding Group announced the completion of the procedures related to transferring the ownership of the private office building in Jeddah today, July 24, according to a bourse filing.

The acquisition will help the company expand and diversify its investments, as well as acquire income-generating assets. In addition, the deal’s completion is part of Anaam’s expansion plan to enhance its market position in line with its strategic objectives.

The relevant financial impact of the deal will appear as of Q3 2022, the statement said, adding there are no related parties.

On June 22, Anaam purchased an administrative and residential building in Jeddah through a public auction for SAR 23 million, Argaam reported.

The move was aimed to enhance the company's investments by purchasing income-generating assets and diversifying the group's business in the real estate sector.

The property includes four office floors, a ground floor, a basement, and 16 apartments. Each floor spans over an area of 1,740 square meters.

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