Saudi Real Estate Company sells land worth 137.34 million riyals

Today, Wednesday, the Saudi Real Estate Company announced the sale of residential, residential and commercial land worth 137.34 million riyals, excluding the value of the real estate transaction tax.

The company stated, in a statement to Saudi Tadawul that the buyers are Aldar Investment Fund 2, represented by the Second Construction Real Estate Company, the First Avenue Real Estate Development Company and the Avenue Al Rabie Real Estate Company.

The company added that the book value of the plot of land is 15.48 million riyals, in so that the company will make a profit of 121.9 million riyals, which will be reflected in the fourth quarter of fiscal year 2021.

He explained that this agreement was entered into to achieve a return on investment and support the company’s existing and future projects based on the real estate company’s new investment strategy.

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