View sells Riyadh land plot for SAR 35.9M, makes SAR 6.2M in capital gains

Logo of View United Real Estate Development Co.

View United Real Estate Development Co. sold a 2,700-square-meter land plot in Al Narjis, north Riyadh, to Asas Diaar Real Estate Co. for SAR 35.91 million, excluding real estate transaction tax, the company said in a filing to Tadawul today, April 6.

The sale aims to deliver high returns over a short period, as the buyer meets the company’s return targets. It aligns with View’s strategic plan to support its financial and investment activities.

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The land’s book value is SAR 29.74 million. The company expects the deal to positively impact its financial results in H1 2025.

Proceeds will go toward executing the strategic plan and enhancing financial and investment operations. No related parties were involved.

The deal generated a capital gain of SAR 6.16 million for View, according to Argaam’s data.

The company acquired the plot in October 2024 from seller Ahmed bin Othman for SAR 27 million.