Jazan Development buys office building in Riyadh for SAR 35 mln

27/10/2014 Argaam

Jazan Development bought an office building in Riyadh for SAR 34.95 million from a Saudi national with aim to diversify its investments, a filing to Tadawul said.

The company said the deal will be financed from internal resources and will help diversify its investments.

The building generates around SAR 3.5 million annually and a financial impact is expected in the first quarter of 2015, it said.

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