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Enma Alrawabi Company announces the sale of a commercial building in Al-Sahafa district for 61,250,000 Saudi Riyals (excluding real estate transfer tax).
9521
ENMA ALRAWABI
-0.30
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1445/10/27 06/05/2024 15:33:13
| Element List | Explanation |
|---|---|
| Introduction | Enma Alrawabi Company announces the sale of a commercial building in Al-Sahafa district in Riyadh. |
| Transaction Details | Commercial building on the commercial strip in Al-Sahafa district in Riyadh with an area of 2,500 square meters. |
| Transaction Value | 61,250,000 Saudi Riyals. |
| Transaction Terms | Not available. |
| Parties of the Transaction | 1- First Party (Seller) Enma Alrawabi Company 2- Second Party (Buyer) Al Mahmal Investment Company. |
| Transaction Funding Method | Not applicable. |
| Transaction Execution Date | 2024-05-06 Corresponding to 1445-10-27 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | Commercial building on the commercial strip in Al-Sahafa district in Riyadh with an area of 2,500 square meters. |
| Asset Book Value | 40,312,500 Saudi Riyals. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | The property subject to the transaction was leased to Saudi Post under an annual contract with a total value of 1,200,000 Saudi Riyals. It was purchased on 07/03/2023 AD, and Enma Alrawabi Company’s share of the rent for the building was collected with a value of 1,000,000 Saudi Riyals. |
| Transaction reasons | Early exit with high and fast capital gains. |
| Expected Impact of the Transaction on the Company and Its Operations | The deal is expected to have a positive impact on the company's financial results after the completion of the evacuation process by achieving capital gains estimated at 20,937,500 Saudi Riyals, representing 51.94% of the cost of purchasing the property. |
| Details of Using The Proceeds of the Asset Sale | Strengthening the company's financial position and promoting future growth plans. |
| Related Parties | No related parties involved in the transaction. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 19.94
Net Change -0.06 (-0.3%)
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