Ajlan & Bros Group buys Riyadh land worth SAR 872.5 mln

21/12/2014 Argaam

Ajlan and Bros Group, Saudi Arabia’s leading menswear manufacturer, has inked a deal to buy two land plots with a total area of one million square meters worth SAR 872.5 million, according to a report published by Al-Riyadh newspaper.

 

The land is located north of Prince Salman Road in the capital city of Riyadh, said Ajlan Al-Ajlan, chairman of the group.

 

About 150,000 square meters were purchased at a price of SAR 1,000 per meter, and will be used to hold a commercial complex, he said.

 

The remaining 850,000 square meters, purchased at SAR 850 per meter, will be developed into a residential and commercial area. 

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