21 Hrs
Source:
الاقتصادية
Umm Al-Qura sells land at Jaifah Marsir
Umm Al-Qura for Development and Construction Company sold a piece of land valued at 220.61 million Riyals in Mecca within the 'Wajhat Masar' project, for the purpose of developing a hospitality tower. The sale was made to Numu Company on September 21. The land covers an area of 3,835.31 square meters, and its book value is 120.90 million Riyals, making the sale price approximately 1.82 times the book value, with a difference of about 99.72 million Riyals. The transaction will contribute to improving the company's liquidity and financial results, as the proceeds will be used to finance working capital and existing projects.
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