11-04-2021
Barwa Real Estate Company announced the signing of an agreement to sell the plot of land owned by the Wahat Riyadh Real Estate Company "wholly owned by Barwa Group", provided that the sale process is completed and emptied (registered) with a notary upon fulfilling all the terms and conditions of the agreement and paying the remainder of the sale price within a period not exceeding 90 days from the date of signing the agreement, where Barwa obtained the first payment on the sale price account.
The total sale price is 742,380,100 Saudi riyals (seven hundred forty-two million, three hundred eighty thousand and one hundred Saudi riyals), excluding real estate tax. All financial terms of the agreement and its financial impact will be announced upon completion of the sale.
The group purchased this land, which is located in the Janadriyah area in the Saudi capital, Riyadh, in 2016, and its area is about 2,216,060 square meters (two million two hundred and sixteen thousand and sixty square meters).
It should be noted that there is no conflict of interest between the contracting parties in this agreement.