Alsaif Gallery sells a commercial building in Tabuk for SAR 35 mln, makes capital gain of SAR 16.6 mln

Logo of Alsaif Gallery

AlSaif Stores for Development & Investment Co. (Alsaif Gallery) sold a commercial building in Tabuk, covering a land area of ​​5,816 square meters, to Nawah Real Estate Investment Co., for SAR 35 million. 

 

The sale comes as part of the company’s focus on its main activity and complementary activities, according to a statement on Tadawul. 

 

The proceeds will be utilized to strengthen the company's financial position and enhance the future growth line.

 

Deal in Details

Seller

Alsaif Gallery

Buyer

Nawah Real Estate Investment

Deal date

Dec. 29

Deal subject

Selling commercial building in Tabuk

Area

5,816 sqm

Value

SAR 35 mln

Book value

SAR 18.42 mln

Capital gains

SAR 16.58 mln

 

The related parties are represented by Chairman Suleiman Al-Saif and board members Ahmed Al-Saif,Mohammed Al-Saif, Haitham Al-Saif and Muhannad Al-Saif, without any preferential conditions. 

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