Thimar delineates agreement to sell stake in Yamama Plus

07/01/2026 Argaam
Logo ofThimar Development Holding Co.

Logo of Thimar Development Holding Co.

Thimar Development Holding Co. clarified that the buyer of its 22% stake in Yamama Plus Serviced Apartments Co. is Abdullah Al Majid. The stake was recently sold for SAR 8.9 million.

 

In a statement to Tadawul, the company revealed that the sale agreement was signed on Dec. 31, 2025, noting that the asset’s book value was SAR 7.61 million.

 

The deal was concluded due to a lucrative opportunity yielding a 17% profit over eight months, the statement said.

 

No related parties were involved, it added.

 

According to Argaam data, Thimar recently sold its 22% stake in Yamama Plus for SAR 8.9 million, achieving an approximate 17% profit.

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