“Al Khareef” buys a building for 86.25 million riyals in Riyadh

Al-Khorayef Water and Energy Technology Company “Al-Khorayef” announced the purchase of a new building worth 86.25 million riyals, to be used as the headquarters of the company’s general management and to meet the needs future of the company.

Today, Sunday, Al-Khorayef declared in a statement on the Saudi Tadawul that the building is newly built, is based on scheme no. 2413 and is located in the district of Al-Sahafa – Olaya Street in Riyadh. It consists of 10 floors, and the cadastral area is 1800 sq m.

He added that the party to the deal is the Capital Development Corporation and there are no special conditions.

He explained that the deal was financed by banking facilities granted by the Saudi Investment Bank.

Al-Khorayef said the financial impact of this agreement will be reflected in the increase in the non-current assets item in the balance sheet for the year ended December 31, 2022.

Read More About: Business News