Taiba sells Bakkah Arac through subsidiary for SAR 330 mln

12/01/2015 Argaam
Taiba Holding said on Sunday that it sold its Mecca-based Bakkah Arac Hotel‏ through its 86.87 percent-owned subsidiary Arab Resort Areas Co. (Arac) for SAR 330 million.
 

The hotel’s book value reached SAR 187.6 million, which means that Arac will realize a capital gain of SAR 142.4 million, according to the statement.

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