Middle East Healthcare Company (Saudi German Health) Announces the Sale of a Plot of Land Valued at SAR 122,000,000 (Exclusive of Real Estate Transaction Tax)
| Element List | Explanation |
|---|---|
| Introduction | Middle East Healthcare Company (Saudi German Health) announces the completion of the sale of a plot of land owned by the company, located in the Al-Sahafa district of Riyadh, with a total area of 4,000 square meters. The sale was concluded with a total value of SAR 122,000,000 (exclusive of real estate transaction tax). |
| Transaction Details | Sale of a 4,000 square meter plot of land located in the Al-Sahafa district of Riyadh with a total value of SAR 122,000,000 (exclusive of real estate transaction tax). |
| Transaction Amount | SAR 122,000,000 (exclusive of real estate transaction tax) |
| Transaction Conditions | N/A |
| Parties of the Transaction | Seller:
Middle East Healthcare Company (Saudi German Health) Buyers: - Al-Lujain Architectural Company for Development and Real Estate Investment, with a 50% ownership share - Abdullah Hamad Al-Mugames Real Estate Development Company, with a 25% ownership share - Mohammed Abdulrahman Al-Mugames Real Estate Development Company, with a 25% ownership share |
| Date of Entering Into The Transaction | 2025-03-23 Corresponding to 1446-09-23 |
| Description of Activity of The Asset Subject of The Transaction | Residential/Commercial Building |
| Asset Book Value | SAR 7,999,592 |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | N/A |
| Transaction reasons | This sale is part of the company's efforts to strengthen its financial position and improve cash flow. |
| Expected Impact of the Transaction on the Company and Its Operations | The financial impact of the transaction is expected to be reflected in the financial results of the quarter in which the sales occurred. |
| Details of Using The Proceeds of the Asset Sale | Financing the ongoing activity |
| Related Parties | None |
Comments