Asas Makeen to sell 3 residential buildings for SAR 77.1M

Asas Makeen signed a contract with Aamal Al Raya to sell three residential buildings for SAR 77.14 million

Asas Makeen Real Estate Development and Investment Co. signed today, Dec. 31, a contract with Aamal Al Raya Real Estate Co. to sell three residential buildings within the Makeen 63 project for SAR 77.14 million, excluding real estate transaction tax.

In a statement to Tadawul, the company said the deal covers three residential buildings comprising 81 units in Riyadh’s Al Aridh district, with ownership transfer to be completed within 60 days of the contract signing.

The transaction is expected to have a positive financial impact on the company’s results starting from the fourth quarter of the current fiscal year, the statement said.