Naseej sells building in SAR 27M deal

13/05/2025 Argaam
Logo ofNaseej International Trading Co.

Logo of Naseej International Trading Co.

Naseej International Trading Co. signed today, May 13, a SAR 27 million agreement to sell a building and transfer the leasehold of the land it sits on, excluding any applicable taxes and fees.

 

The buyer is National Biscuits and Confectionery Co. (NBCC). Naseej said the disposal will not affect its core operations, according to a Tadawul filing.

 

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The deal is part of Naseej’s strategic plan to monetize non-core assets.

 

According to the company, the deal is set to yield a net profit of SAR 20.38 million in Q2 2025, hence improving financial performance and reducing accumulated losses.

 

After settling dues to the Saudi Industrial Development Fund (SIDF) and other outstanding obligations, Naseej expects net cash inflows of SAR 10 million.

 

Proceeds will be used to settle SAR 5 million in urgent payables, repay an outstanding balance of SAR 12 million to SIDF which was incurred as a prerequisite for the deal’s approval, and inject SAR 10 million into business operations.

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