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Addendum Announcement from Arabian Centres Co. (Cenomi Centers) regarding to subsequent announcement regarding the sale of its owned land (Raseel Al Ihsa) in Granada District in Al Ahsa
| Element List | Explanation |
|---|---|
| Introduction | Addendum to Arabian Centres Co. (“Cenomi Centers” or “the company”) announcement on 12 October 2023 regarding the sale of a land (Raseel Al Ihsa) in Granada District in Al Ahsa, which was sold at auction. |
| Date of Posting the Previous Announcement of Development on Tadawul's Website | 2023-10-12 Corresponding to 1445-03-27 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | Regarding the sale of a plot of land (Raseel Al-Ahsa) in the Granada neighborhood in the city of Al-Ahsa through public auction, and in reference to the land sale contract with the buyer, Mr. Abdullah bin Fahd bin Abdullah Al-Huraish Al-Tamimi, which stipulates collecting the value of the transaction within (120) days, and since the company wished to Collect 50% of the sales value of the land upon signing the contract, it provided an allowable discount to the buyer in the amount of (3) million Saudi riyals. However, the buyer was unable to pay the advance according to the company’s wishes, and so he nominated a new buyer, Halat Real Estate Company (one person company), represented by Mr. Nahid bin Mohammed bin Hamad Al-Jabr, who fulfilled the company’s request, paid the required advance value, and signed the sales contract |
| Financial Impact on the change | The sale price was reduced from SAR 65.5 million to SAR 62.5 million (excluding real estate transaction tax and the brokerage fees), a reduction of SAR 3 million. |
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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