Batic subsidiary gets Madinah Municipality’s nod for Al-Khuzama project

05/02/2023 Argaam
Logo ofBatic Investments and Logistics Co.

Logo of Batic Investments and Logistics Co.

Batic Investments and Logistics Co.’s fully-owned subsidiary, Batic Real Estate Co., received, on Feb. 2, the approval of Madinah Municipality to develop Al-Khuzama residential neighborhood community, the company said in a statement to Tadawul.

 

There are no costs associated with the event during the current period, the statement said, adding the financial impact, if any, will be announced later.

 

Batic Real Estate acquired a land plot in Madinah, in May 2022, for SAR 126.39 million, excluding tax and commission, for development and resale, Argaam reported earlier. 

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