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Al Hammadi Holding Announces Sale a land in Al Rayyan District in Riyadh City in the value of 124,600,000 SAR (excluding the Real Estate Transaction Tax and the Brokerage Fees).
| Element List | Explanation |
|---|---|
| Introduction | Al Hammadi Holding Announces the Sale of a 35,600 sqm of land in Al Rayyan District in Riyadh City with a total price of 124,600,000 SAR (excluding the Real Estate Transaction Tax and the Brokerage Fees). |
| Transaction Details | Al Hammadi Holding Announces the Sale of a 35,600 sqm empty land in Al Rayyan District, with a total price of 124,600,000 SAR (excluding the Real Estate Transaction Tax and the Brokerage Fees). |
| Transaction Value | 124,600,000 SAR (excluding the Real Estate Transaction Tax and the Brokerage Fees). |
| Transaction Terms | The buyer shall pay a non-refundable down payment of three million one hundred and fifteen thousand Saudi Riyals (SAR 2,492,000). The buyer undertakes to deliver the remaining amount of the property price, which is One hundred twenty-two million one hundred eight thousand Saudi Riyals (SAR 122,108,000), within a period not exceeding Thursday, June 13, 2024. |
| Parties of the Transaction | Seller: Al Hammadi Holding Company. Buyer: Emmar Ocean Company. |
| Transaction Execution Date | 2024-04-02 Corresponding to 1445-09-23 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | Empty land. |
| Asset Book Value | 69,331,000 SAR |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not applicable. |
| Transaction reasons | Supporting future expansions of the company. |
| Expected Impact of the Transaction on the Company and Its Operations | The company’s Income Statement will be positively affected by the capital gains, resulted from the sale transaction, amounted to 55,269,000. And it is expected that this effect will be reflected during the Second quarter of the year ending 31/12/2024. |
| Details of Using The Proceeds of the Asset Sale | Strengthening the company’s financial position and reinforcing Al Hammadi Holding Co.’ future growth plans. |
| Related Parties | None. |
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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