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Hamad bin Saidan Subsidiary Sells Assets
Hamad Mohammed Bin Saeedan Real Estate Company announced the completion of a transaction involving the sale of industrial assets in Riyadh city, with a total value of 190 million SAR. The deal includes the sale of 74 model factories within the Industrial Gateway City project to the Saudi GEF Trust Fund. The transaction focused on Block 5 and Block 13, covering a total area of approximately 69,900 square meters, with expected annual revenues close to 16 million SAR. The company's aim with this deal is to liquidate assets, strengthen its financial position, and settle financial obligations.
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