Saudi Advanced Industries Company and its subsidiary announce the purchase of a commercial building to be used as headquarters of Saudi Advanced Industries Company and its subsidiary
- Date : 2024-05-13
| Element List | Explanation |
|---|---|
| Introduction | Saudi Advanced Industries Company and its subsidiary announce the completion of the purchase of a commercial building for a total amount estimated at 12,040,800 Saudi riyals, excluding real estate transaction tax and real estate brokerage. |
| Transaction Details | Saudi Advanced Industries Company and its subsidiary announce the completion of the purchase of a commercial building in the city of Riyadh, Al-Yasmeen District, consisting of two headquarters, Headquarters No. (1), with an area of 282.33 square meters, for an amount of (5,625,022) SAR, for Permanent Growth Investment Company, a 100% owned subsidiary, and Headquarters No. (2). With an area of 308.33 square meters and an amount of (6,415,778) riyals for Saudi Industries Company, the total area of the two headquarters is (591 meters) for a total amount of 12,040,800 Saudi riyals, not including the real estate transaction tax And real estate brokerage for the purpose of allocating it as a headquarters for Saudi Advanced Industries Company and its subsidiary. |
| Transaction Value | 12,040,800 Saudi riyals, not including real estate transaction tax and real estate brokerage |
| Transaction Terms | NA |
| Parties of the Transaction | Saudi Advanced Industries Company and its subsidiary (Al-Buyer)
– Ramoz Al-Arabiya Company (Seller) |
| Transaction Funding Method | The company’s own resources |
| Transaction Execution Date | 2024-05-13 Corresponding to 1445-11-05 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | A commercial building consisting of (office villas) in Riyadh, Al Yasmeen District, Prince Saud bin Jalawi Road. The total area is 591 square meters for the two headquarters. Headquarters No. (1) with an area of (282.33) for the 100% subsidiary and owned company, Permanent Growth Investment Company, and Headquarters No. (2) with an area of 308.33 for Saudi advanced industries Company |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | NA |
| Transaction reasons | This deal comes within the plans of the Saudi Advanced Industries Company and its subsidiary to develop the company’s assets and strengthen its financial position. |
| Expected Impact of the Transaction on the Company and Its Operations | NA |
| Related Parties | NA |