BRIEF-Asas Makeen Signs Contract With MEFIC Capital And Binaa Altharawat Financial Investment

ASAS MAKEEN
Tadawul All Shares Index

ASAS MAKEEN

9640.SA

0.00

Tadawul All Shares Index

TASI.SA

0.00

July 8 (Reuters) - ASAS MAKEEN REAL ESTATE DEVELOPMENT AND INVESTMENT 9640.SE:

  • SIGNS CONTRACT WITH MEFIC CAPITAL AND BINAA ALTHARAWAT FINANCIAL INVESTMENT COMPANY

  • TARGET FUND SIZE IS APPROXIMATELY SAR 73.4 MILLION

  • AGREEMENT SHALL REMAIN VALID FOR A PERIOD OF 90 DAYS

  • AGREEMENT FOR ESTABLISHING A PRIVATE REAL ESTATE INVESTMENT FUND TO DEVELOP LAND OWNED BY THE CO

  • PARTIES ALSO AGREED THAT VALUE OF LAND SUBJECT OF AGREEMENT SHALL BE SAR 30.7 MILLION

  • BINAA ALTHARAWAT FINANCIAL INVESTMENT WILL DISTRIBUTE FUND UNITS,

  • ASAS MAKEEN WILL PARTICIPATE IN THE FUND THROUGH AN IN-KIND CONTRIBUTION REPRESENTING 30% OF THE LAND VALUE

  • FINANCIAL IMPACT OF AGREEMENT IS EXPECTED TO POSITIVELY REFLECT ON FINANCIAL RESULTS DURING 2026 AND 2027

  • REMAINING PORTION OF THE LAND VALUE WILL BE PAID IN CASH

Source text: ID:nSSEb3nz6q

Further company coverage: 9640.SE


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.