2P gets SAR 39.3M in compensation for expropriated property in Diriyah

  • 2P(0.43%)
06/06/2024 Argaam
Logo ofPerfect Presentation for Commercial Services Co. (2P)

Logo of Perfect Presentation for Commercial Services Co. (2P)

Perfect Presentation for Commercial Services Co. (2P) received SAR 39.26 million in compensation for one of the two Riyadh-based real estate properties subject to expropriation in Al Khuzama District, Diriyah, the company said in a statement on Tadawul today, June 6.

 

Accordingly, the company would generate capital gains of SAR 26.28 million. Compensation for the other property is still underway. Any relevant updates will be disclosed when available, it added.

 

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In January 2023, 2P was notified of the appraisal of its expropriated properties in Al Khuzama. The appraisal was valued at SAR 53.85 million, resulting in capital gains of SAR 33.79 million, according to data compiled by Argaam.

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