Clean Life purchases SAR 1.6M land in Jeddah for employee housing

24/07/2024 Argaam

Clean Life purchases SAR 1.6M land in Jeddah for employee housing

Logo of Clean Life Co.

Clean Life Co. purchased on July 23 a land plot worth SAR 1.6 million at Al Rayyan district, Jeddah, from Abdullah Hassan Masri, according to Tadawul website.

 

Spanning nearly 600 square meters, the land will be used to build an employee accommodation.

 

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The purchase will be financed from Clean Life's own resources, the company said, noting that the transaction will likely lead to increasing the asset value and decreasing rent expenses.

 

There are no related parties to the deal, according to the statement.

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