Enma AlRawabi sells commercial building in Riyadh for SAR 30.7M

05:41 PM (Mecca time) Argaam
Logo ofEnma Alrawabi Co.

Logo of Enma Alrawabi Co.

Enma AlRawabi Co. announced today, Feb. 12, the sale of a commercial building in Dhabab District, Riyadh, to Haifa Al-Tuwaijri for SAR 30.66 million, including real estate transaction tax.

 

In a statement to Tadawul, the company said the sold property spans 3,642.60 square meters and is leased to Abdullah Al Othaim Markets Co.

 

The sale is intended to strengthen Enma AlRawabi’s financial position, support future growth plans, and optimize asset allocation to more strategic locations.

 

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The company noted that the asset’s book value stood at SAR 6.8 million. It expects the deal to positively impact its financial results by generating approximately SAR 22.4 million in capital gains upon completion of the property’s ownership transfer.

 

Enma AlRawabi also reported that the asset generated a total income of SAR 3.17 million over the past three years, adding that the transaction includes no related parties.

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