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Enma Alrawabi Company Announces the Sale of Al-Namothajiya Business Building in Al-Namothajiya District for SAR 21,050,000 (Excluding Real Estate Transaction Tax)
| Element List | Explanation |
|---|---|
| Introduction | Enma Alrawabi Company announces the sale of the Al-Namothajiya Business Building located in Al-Namothajiya District, Riyadh. |
| Transaction Details | The sale of a commercial building located in Al-Namothajiya District, Riyadh, with a total land area of 948 square meters. |
| Transaction Amount | SAR 21,050,000 |
| Transaction Conditions | None |
| Parties of the Transaction | 1. First Party (Seller): Enma Alrawabi Company 2. Second Party (Buyer): AlNaseehah AlOula Investment Company |
| Transaction Financing Method | Not applicable |
| Date of Entering Into The Transaction | 2025-06-26 Corresponding to 1447-01-01 |
| Description of Activity of The Asset Subject of The Transaction | A commercial building located in Al-Namothajiya District, Riyadh, with a land area of 948 square meters. The building is leased to Basamh Trading Company Limited (Single Shareholder Company) for a term of ten (10) years. |
| Asset Book Value | SAR 8,546,325 |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | 1. Development works commenced in August 2023 and were completed by the end of 2024, with a total cost of SAR 8,546,325 including the land value. 2. A lease agreement was signed for a duration of ten (10) years, starting from 15 April 2025 to 14 April 2035, with a total lease value of SAR 13,600,000. |
| Transaction reasons | 1. To strengthen the company’s financial position. 2. Asset reallocation. |
| Expected Impact of the Transaction on the Company and Its Operations | The sale of the Al-Namothajiya property is expected to have a positive impact on the company’s financial position through an increase in net profit and enhanced liquidity. |
| Details of Using The Proceeds of the Asset Sale | To strengthen the company’s financial position and support future growth plans. |
| Related Parties | The following members of the Board of Directors of Enma Alrawabi Company are also board members of AlNaseehah AlOula Investment Company: Mr. Fahad bin Ibrahim Almousa, Mr. Abdulaziz bin Ibrahim Almousa, Mr. Ahmed bin Ibrahim Almousa |
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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