Aslak buys its Riyadh branch’s land for SAR 32m

22/12/2014 Argaam

The United Wire Factories Company (ASLAK) purchased the land of its branch in Riyadh for SAR 32m.
 

The land occupies an area of 20,000 sq m on Riyadh- Kharj road and is intended to be used as a main warehouse and to provide logistic support to south Riyadh’s points of sales; the company said in a filing to Tadawul.


The deal was financed internally and is expected to boost the company’s future earnings; the company added.


According to Argaam; Aslak inaugurated its first branch in Riyadh on this land in May 2013. 

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