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Addendum Announcement from Thimar Development Holding Company. regarding a real estate investment
| Element List | Explanation |
|---|---|
| Introduction | Following the company's announcement on the Tadawul website on 11-19-2023 AD regarding entering into a real estate investment, the company would like to clarify to the esteemed shareholders the following additional information: - Beginning of investment: November 19, 2023 AD through Aseel Financial Company - Name of the fund invested in: Business Square Development Fund under the management of Osool and Bakhit Company - Unit distributor: Aseel Financial Company - Real estate developer: Four Directions International Trading Company. - Fund capital: 120 million riyals -Fund duration: 48 months, extendable for an additional 24 months, with an expected investment return of approximately 68% The Fund aims to: Structural development of a land leased for a period of 32 years, ending in the year 2054 AD, by building an office housing project on the land located in the city of Riyadh in the Al-Nakhil neighborhood, Al-Khwarizmi Avenue, with an area of 26,374 square meters. It is worth noting that this investment is consistent with the plan. The previously announced financial regulation regarding investment in real estate projects with lucrative returns, and the company will announce any developments in this regard later. |
| Date of Posting the Previous Announcement of Development on Tadawul's Website | 2023-11-19 Corresponding to 1445-05-05 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | Add the above information about investment and real estate fund |
| Financial Impact on the change | nothing |
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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