Asas Makeen signs contract to sell Riyadh real estate project at SAR 62M

04:59 PM (Mecca time) Argaam- Nomu
Logo ofAsas Makeen Real Estate Development and Investment Co.

Logo of Asas Makeen Real Estate Development and Investment Co.

Asas Makeen Real Estate Development and Investment Co. signed today, Dec. 31, a contract for the sale of the Makeen 88 project to N Building Co., for SAR 61.97 million, excluding the real estate transaction tax.

 

The project is located in Al-Arid district, Riyadh, spanning 8,800 square meters, the company said in a Tadawul statement.

 

The ownership of the project’s title deed will be transferred within 45 days.

 

This transaction is expected to have a positive financial impact on the company's results starting from the fourth quarter of this year.

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