Al-Hassan Ghazi Ibrahim Shaker said the SAR 48 million it paid for buying the 12-storey office building in Riyadh, were lent from the National Commercial Bank (Al-Ahli).
The company signed agreement last week for buying the building, which will be utilized as headquarters for its operations in the Saudi capital.
A positive financial impact due to cutting rental cost is expected as of the second quarter of 2015, the company said.
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