Thimar sells Yamama Plus stake for SAR 8.9M, makes 17% profit

Thimar said the proceeds of the sale will be used to achieve the approved financial regulation plan

Thimar Development Holding Co. signed an agreement to sell its 22% stake in Yamama Plus Serviced Apartments Co. for SAR 8.9 million, achieving a profit of approximately 17%.

In a statement to Tadawul, the company said its investment in Yamama Plus was worth SAR 7.61 million eight months ago, resulting in a profit of approximately SAR 1.29 million.

Thimar has received 50% of the payment, with the remaining amount to be paid within a maximum of 20 days from the date of signing the agreement.

The proceeds of the sale will be used to achieve the approved financial regulation plan, the statement added.

According to data available with Argaam, Thimar announced in July 2025 the acquisition of a 22% stake in Yamama Plus through an in-kind consideration, by transferring its investment valued at SAR 7.61 million in the Osool & Bakheet-Al Yamama City Center Fund, which is developing Yamama City Center.