2P receives SAR 14.6M compensation for 2nd expropriated property in Diriyah

22/07/2024 Argaam

2P receives SAR 14.6M compensation for 2nd expropriated property in Diriyah

Logo of Perfect Presentation Co. (2P)

Perfect Presentation Co. (2P) received SAR 14.6 million in compensation for one of the two Riyadh-based real estate properties subject to expropriation in Al Khuzama District, Diriyah.

 

In a statement on Tadawul today, July 22, the company said this compensation will result in capital gains of SAR 7.48 million.

 

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In January 2023, 2P was notified of the appraisal of its two expropriated properties in Diriyah’s Al Khuzama District. Both were valued at SAR 53.85 million, resulting in capital gains of SAR 33.79 million. Last June, the company received SAR 39.26 million in compensation for one of these properties, generating capital gains of SAR 26.28 million.

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