BANK ALBILAD sells Al Dare'ya land for SAR 653m

28/02/2012 Tadawul

Bank AL Bilad announced today the sale of Dare'ya (Riyadh) land owned by the bank on February 28th, 2012, according to a statement on Tadawul.

 

The 310,972m2 land which was sold for SAR 653m had a book value of SAR 280m resulting in a capital gain of SAR 373m.

The capital gain will be reported under extraordinary gains on the income statement for Q1, 2012.

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