BANK ALBILAD announces Buying a head office of value SAR 410 Millions

22/10/2013 Tadawul

BANK ALBILAD announces the Buy of The building is situated in Riyadh city , along King Fahd Road intersecting with Makkah Road (south-west field of Cairo) of value SAR 410 Million as following:
 

1- the deal parties : Bank AlBilad and Ajlan Real Estate Company.


2- Method of the Financing deal: The bank pays the full transaction amount from its own sources.
 

3- Deal reasons: To be the Headquarters for the head office of the bank, and to meet the growing needs of offices for different departments of the Bank.


4- Expecting impact on the company operations: This Real estate property is classified as fixed assets with its costs for the purpose of conducting the banks various activities.

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