First Avenue inks deal to up stake in Blom Real Estate to 75%

Logo of First Avenue Real Estate Development Co. 

First Avenue for Real Estate Development Co. increased its ownership in the Blom Real Estate Investment Fund-1 from 16% to approximately 75%, at a value of SAR 20.08 million.

 

In a statement to Tadawul, the company indicated that the increase in ownership is achieved by purchasing 32,000 investment units, which is payable in five installments starting after three years.

 

For more news and details on the projects

 

The company said it expects the deal to have a positive impact starting in 2025, noting that there are no related parties.

 

The fund plans to establish a residential compound that includes 315 luxurious apartments on a 30,000-square-meter plot in the Al-Arid district, north of Riyadh, it added.

Comments 0

Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Market Indices

NOMU
31,275.27
139.42 0.45 %
Created with Highstock 6.0.710:…10:0011:0012:0013:0014:0015:0011,700.0011,750.0011,800.0011,850.0011,900.00
Close : 11853.78 | Mar 16, 15:20
More

Quotes

FIRST AVENUE
9.10
(0.03) (0.33%)
Created with Highstock 6.0.710:…10:0011:0012:0013:0014:0015:0011,700.0011,750.0011,800.0011,850.0011,900.00
Close : 11853.78 | Mar 16, 15:20
More


Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2025, Argaam Investment, All Rights Reserved
Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website