Anaam buys administrative, residential building in Jeddah for SAR 23 mln

Logo of Anaam International Holding Group

Anaam International Holding Group completed today, Aug. 24, the procedures for buying and transferring an administrative and residential building in Jeddah in the company’s name, according to a bourse filing.

The conclusion of the transaction falls within Anaam's expansion plan, which aims to enhance its market position in line with its strategic objectives.

The financial impact will be reflected on the company's revenues from Q1 2023.

The company announced, on June 22, purchasing an administrative and residential building in Jeddah through a public auction for SAR 23 million, according to data available with Argaam.

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.