Mazaya Real Estate Development Company (Q.P.S.C) announced the completion and receipt of two buildings from the Qatari Company for Reclamation and Development of Lands and Rehabilitation in Mesaimeer, at a value of 53 million riyals, which are leased with an annual return equivalent to 7.8% for a period of five years, subject to renewal, in accordance with the terms and conditions contained in the Contract.
This step came as part of the company's investment plan to translate the directives of the Chairman and members of the Board of Directors to invest shareholders' money in projects that ensure the flow of rewarding liquidity to the company for the benefit of the shareholders, and this acquisition supports the strengthening of the company's assets and a new source of increasing revenues.
This deal was concluded based on the previously concluded agreement, which states that Mazaya Real Estate Development Company will acquire four buildings in the Mesaimeer area. Two out of the four buildings have been completed and received, and the company settled on these two buildings only due to the effects resulting from the increase in bank profit rates.