View United Real Estate Development Company Announces the Purchase and Mortgage of a Real Estate Asset for SAR 40,371,930

View United Real Estate Development Company Announces the Purchase and Mortgage of a Real Estate Asset for SAR 40,371,930

21 February 2024 08:00 AM

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Element List

Explanation

Introduction

View United Real Estate Development Company Announces the Purchase and Mortgage of Land in Al-Nargis Neighborhood North of Riyadh City

Transaction Details

Purchase of Land with an Area of (8,971.54) Eight Thousand Nine Hundred and Seventy-One Square Meters and Fifty-Four Centimeters Square in Al-Nargis Neighborhood North of Riyadh City

Transaction Value

40,371,930 riyals, not including real estate transaction tax

Transaction Terms

there is no

Parties of the Transaction

Seller: Al Ajial Holding Company Buyer: View United Real Estate Development Company

Transaction Funding Method

Through a Sharia-compliant bank loan agreement announced on February 13, 2024, and the company's own financing sources

Transaction Execution Date

2024-02-20 Corresponding to 1445-08-10

Description of the Business of the Asset forming the Subject Matter of the Transaction

Purchase of Residential Land for the Purpose of Developing One of the Company's Projects on It

Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction

Not applicable

Transaction reasons

Building and Developing Residential Units for Sale