Ash-Sharqiyah Dev acquires SAR 135 mln real estate assets in Riyadh
Ash-Sharqiyah Development Co. announced the signing for acquisition of two income-generating real estate assets in Riyadh, the company said in a bourse statement.
Worth SAR 135 million, the two assets, owned by Omar Saleh Babekar, comprises a residential complex of 90 housing units, consisting of 42 villas and 48 apartments. The second one is a spring residential complex consisting of six buildings, comprising 86 apartments.
The acquisition will increase Ash-Sharqiyah’s capital and issue shares in favor of the seller with the value of the assets to be acquired.