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FINANCIAL NEWS
Saudi Real Estate Co, Alinma to purchase USD479.78m land
07 Jul 2015
(MENAFN) Saudi Real Estate Co, in association with Alinma Investment, is set to purchase USD479.78 million of land in Riyadh, according to a corporate statement, Reuters reported.
The plot, owned by an unidentified seller, is spread over 5 million square meters and is set to be dedicated for several real estate and property projects.
The deal will be funded through a real estate finance to be managed by Alinma Investment after licensing and regulatory approval has been given by the Saudi Arabian Capital Market Authority.
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