Thimar to sell fund investment for SAR 6.6M

Logo of Thimar Development Holding Co.

Thimar Development Holding Co. signed a binding agreement on June 23 with Abdullah bin Abdulaziz Nasser to sell its entire stake in the Osoul & Bakheet Four Directions for Business Park Development Fund, comprising 600,000 investment units, for SAR 6.6 million.

According to a statement to Tadawul, the transaction value will be settled in accordance with the mechanisms and procedures approved by the fund manager.

The company said completion of the transaction and transfer of the units remain subject to the required regulatory and legal approvals, as well as the fund's terms and conditions and the fund manager's requirements.

Under the agreement, Thimar has the right to terminate the transaction and seek compensation in accordance with its terms should the buyer fails to meet contractual obligations.

The company added that the book value of the investment stood at SAR 5.74 million as of March 31.

The sale represents a return of approximately 15% above the asset's book value, based on the company's financial statements as of March 31, 2026.

Thimar said the proceeds will support working capital and contribute to the implementation of its financial restructuring plan.

Thimar expects the deal to have a positive impact on its financial results and liquidity during Q2 2026, confirming that no related parties are involved in the transaction.