#Latest news with #FahadAl-ShibayaniArgaam16-02-2025BusinessArgaamLadun sells Al Rimal land in Riyadh for SAR 117.5MLadun Investment Co. sold a 50,000-square-meter land plot in Riyadh's Al Rimal district for SAR 117.5 million, excluding real estate transaction tax and brokerage fees. The property was acquired equally by Fahad Al-Shibayani (50%) and Nasser Al-Shibayani (50%). Its book value stood at SAR 80.63 million. The sale aims to generate profit from an asset initially acquired for development and resale. Ladun expects a positive financial impact in 2025 and a reduction in financing obligations. Proceeds will repay a loan from Bank Albilad used to acquire the land. The remaining funds will support the company's operations. No related parties were involved.
Argaam16-02-2025BusinessArgaamLadun sells Al Rimal land in Riyadh for SAR 117.5MLadun Investment Co. sold a 50,000-square-meter land plot in Riyadh's Al Rimal district for SAR 117.5 million, excluding real estate transaction tax and brokerage fees. The property was acquired equally by Fahad Al-Shibayani (50%) and Nasser Al-Shibayani (50%). Its book value stood at SAR 80.63 million. The sale aims to generate profit from an asset initially acquired for development and resale. Ladun expects a positive financial impact in 2025 and a reduction in financing obligations. Proceeds will repay a loan from Bank Albilad used to acquire the land. The remaining funds will support the company's operations. No related parties were involved.
16-02-2025
