Latest news with #AtlasElevators
Argaam
27-05-2025
- Business
- Argaam
Atlas Elevators subsidiary ink SAR 12.5M deal for land usufruct, building purchase
Atlas Elevators General Trading and Contracting Co. 's subsidiary, Atlas National Elevators Factory Co. — 99% owned by the parent company —signed a contract to acquire the usufruct rights of an industrial land plot and purchase the buildings constructed on it from the Saudi Kuwaiti Furniture Manufacturing Co., for a total value of SAR 12.5 million, inclusive of the broker's commission. In a statement to Tadawul, the company said the agreement covers the transfer of usufruct rights for land plot No. M16:1+2, spanning an area of 11,250 square meters, located in Riyadh's Second Industrial City. The deal also includes the purchase of all buildings on the land, along with associated rights and ownerships, including building equipment, air conditioning systems, and all electrical installations. The company noted that a valuation by Oulat Real Estate Appraisal Office estimated the property's value at SAR 13.04 million, while Asala Real Estate Appraisal Co. valued it at SAR 13.92 million.
Argaam
28-01-2025
- Business
- Argaam
Atlas Elevators opens new branch in Riyadh
Atlas Elevators General Trading and Contracting Co. opened on Jan. 27 a new branch in Al-Qairawan district, King Salman bin Abdulaziz Road, in Riyadh. The branch spans an area of 130 square meters and contains all of the company's products, the company said in a statement to Tadawul. Through this branch, Atlas Elevators aims to have a sales outlet for its products and expand the market share in the region, as the branch is located near the Cube project. This comes in line with the company's future vision and expansion plan within Riyadh as it seeks to achieve growth, enhance customer base, and secure targeted returns. The financial impact of this branch will appear starting in the first half of 2025, the statement added.
