Thimar Sells Yamamah Stake for SAR 8.9M at 17% Profit

THIMAR -2.47%

THIMAR

4160.SA

34.70

-2.47%

Thimar Development Holding Company announced on January 7, 2026, additional details regarding its previously disclosed sale of stake in Yamamah Plus Serviced Apartments Company. The transaction, concluded on December 31, 2025, involved selling the stake to Abdullah Abdul Aziz Nasser Al Majid for 8,900,000 Saudi Riyals, generating approximately 17% profit over an eight-month period. The asset's book value was SR 7,608,000, and the company cited a "rewarding selling opportunity" as the reason for the transaction.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=92509&anCat=1&cs=4160&locale=ar

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