Almuneef buys 2 industrial land plots in Al-Kharj for SAR 2.1 mln

Logo of Almuneef Company for Trade, Industry, Agriculture and Contracting

Almuneef Company for Trade, Industry, Agriculture and Contracting purchased on June 17 two industrial land plots for SAR 2.1 million on an area of 2,030.7 square meters (sqm) in Al-Kharj governorate from Mohammed bin Abdullah Al-Yousef.

In a statement to Tadawul, the company said the two plots will complement the previously purchased 1,015 sqm land worth SAR 926,646 within the same masterplan in Al-Kharj. The land was purchased through Badir Real Estate Auction managed by Tatemmah Real Estate Co. on March 6.

The deal will be fully funded by the company, which aims to build a factory for manufacturing agricultural inputs, as part of its five-year plan.

The relevant impact is expected to appear once Almuneef commences manufacturing activities, the company said, adding there are no related parties to the deal.