Enma AlRawabi buys commercial building in Riyadh for SAR 37.5 mln

08/03/2023 Argaam

Enma AlRawabi buys commercial building in Riyadh for SAR 37.5 mln

Logo of Enma AlRawabi Co.

Enma AlRawabi Co. purchased a commercial building spanning 2,500 square meters in Al Sahafah District, Riyadh, from Al Ajlan Holding for SAR 37.5 million, the company said in a statement to Tadawul.

 

It added that it will bear the selling commission and pay the real estate transaction tax, in accordance with the regulations.

 

The deal will be financed from Enma AlRawabi's resources, the statement said, adding that the property is leased under an annual contract of SAR 1.2 million.

 

The transaction, aimed at expanding the company's activities, will lead to increasing investment properties, with revenue expected to increase by an amount equal to the value of the previous lease contract.

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