Arriyadh Development Company announces the acquisition of an office building on King Fahad Road in Riyadh City, Transaction Details: Acquisition of an office building located in Al Malga Area North of Riyadh City, Transaction Value: SAR 168 million (excluding land registration tax), Transaction Terms: Land transfer on 20 October 2022, Parties of the Transaction: Arriyadh Development Company and Burj Al Balad Company, Transaction Funding Method: Available cash in the company's account, Description of the Business of the Asset forming the Subject Matter of the Transaction: Office building (2 Basements + G + M + 12 floors) with total Net Leasable Area of c. 10,500 sqm on King Fahad Road (Al Malga Area) North of Riyadh City.
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