SRECO sells Riyadh-based land for SAR 77.1 mln

01/01/2015 Argaam

Saudi Real Estate Company (SRECO) sold on Thursday a plot of land in Cordoba, Riyadh for SAR 77.1 million, the company said in a statement to Tadawul, Saudi Arabia’s bourse.

The land has a total area of 21.7 thousand Square meters and was developed for resale purpose, it added.

SRECO will realize a capital gain of SAR 68.3 million for the sale, which will be reflected in results for Q1-2015.

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