Al Naqool buys land plot in Riyadh for SAR 15.9 mln

05/07/2021 Argaam

Logo of Mohammed Hasan Al Naqool Sons Co.

Mohammed Hasan Al Naqool Sons Co. purchased a land plot, located in Riyadh, for SAR 15.9 million, the company said in a bourse filing.

 

The land plot, which spans 3,990 square meters (sqm), will be used in a residential real estate project and will be developed by Al Naqool’s 100%-owned subsidiary, Deer Real Estate Co.

 

The deal will be financed through the company’s own resources and will likely have a positive impact on the revenue.

 

The relevant updates will be duly revealed, the statement said, adding that there are no related parties.

 

Last week, Al Naqool announced completing the issuance of the memorandum of association (MoA) and the commercial registration of its 100%-owned subsidiary under the name of "Deer Real Estate Co.", Argaam reported.

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