Riyadh, Kingdom of Saudi Arabia,   Areeb Capital, a real estate investment trust structuring and management company, announced that one of its investment funds has acquired a 32 million square meter plot of land in the heart of Dammam in the Eastern Province, for a total value of 12 billion riyals, making it one of the largest real estate deals in the region .

The company revealed its intention to develop this land, which enjoys a strategic location in Al Naseem district on King Faisal Road (coastal), to establish a qualitative multi-use project that provides promising investment opportunities in line with the goals of the Kingdom’s Vision 2030.

Areeb Financial indicated its success in financing the deal through a group of major investors, in addition to obtaining banking facilities compatible with the provisions of Islamic law from several Saudi banks; which reflects the confidence of investors and banks in the company’s vision, and in the Saudi real estate market in general .

It is worth noting that Areeb Financial Company is a company licensed by the Capital Market Authority, with license number 30-08119.

-I finish-

#Corporate Data

Disclaimer for the content of press releases
The content of this press release is provided by a third party provider. We do not assume any responsibility for, or have control over, such content. This content is provided on an 'as is' and 'as available' basis and has not been edited in any way. Neither we nor our affiliates are responsible for the accuracy, endorsement or completeness of the opinions, views, information or materials contained in this content.
The press releases are provided for informational purposes only; the content does not provide legal, investment or tax advice or any opinion regarding the suitability, value or profitability of any particular portfolio or investment strategy. We, or our affiliates, will not be liable for any errors or inaccuracies in the content, or for any actions you take based on the content. You expressly agree and acknowledge that you assume full responsibility for the use of the information contained in these press releases.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, REFINITIV, ITS PARENT, SUBSIDIARIES, AFFILIATES, AND THEIR RESPECTIVE SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, ADVERTISERS, CONTENT PROVIDERS AND LICENSORS (COLLECTIVELY, THE “REFINITIV PARTIES”) WILL NOT BE LIABLE (JOINTLY OR SEVERALLY) TO YOU FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL, PUNITIVE OR EXEMPLARY DAMAGES; This includes, but is not limited to: lost profits, lost savings or revenues, whether caused by negligence, tort, contract or other liability theories, even if the Refinitiv Parties have been advised of the possibility of any such damages and losses or had actually anticipated their occurrence.