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Al Hammadi Company for Development and Investment Announces that it had signed a contract to Purchase a land in narjes community in the value of 115,600,133 Saudi riyals excluding the Real Estate Transaction Tax and commission

ELEMENT LIST EXPLANATION
Introduction Al Hammadi Company for Development and Investment announces the signing of a contract to purchase a plot of land
Transaction Details purchase a 19,202 square meter plot of land in narjes community north of king Salman road north of Riyadh on abi bakr as siddiq road costing 115,600,133 Saudi riyals excluding the Real Estate Transaction Tax and commission
Transaction Value 115,600,133 Saudi riyals excluding the Real Estate Transaction Tax and commission
Transaction Terms paying 80% of the price within 21 days
Parties of the Transaction seller alnarjes community real estate developer

 

buyer Al Hammadi Company for Development and Investment

Transaction Funding Method internal cash flow and bank loans
Transaction Execution Date 2022-03-28 Corresponding to 1443-08-25
Description of the Business of the Asset forming the Subject Matter of the Transaction 19,202 square meter land
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction Not applicable
Transaction reasons to built a hospital
Expected Impact of the Transaction on the Company and Its Operations increase in the non-current assets in the 2q 2022
Related Parties none
Additional Information the price per square meter was 6020 Saudi riyal without commission or the Real Estate Transaction Tax