Al Andalus Acquires Logistics Land in Riyadh for SAR 83.8 Million
A subsidiary of Al Andalus acquired a 44,550-square-meter logistics land plot in Al-Mashael district, Riyadh, for SAR 83.8 million, with plans to build warehouses on it.
A subsidiary of Al Andalus has acquired a logistics land plot covering 44,550 square meters in the Al-Mashael neighborhood in Riyadh, valued at SAR 83.8 million, including real estate transaction tax and brokerage fees.
The seller was "Ahmed Suleiman Al-Fahhad & Sons", and the company financed the purchase through its own resources and bank facilities.
The company plans to build high-quality logistics warehouses on the site, according to a report by "Al-Aqaria".
The company expects the financial impact of the transaction to appear in the fourth quarter of 2026.
What Do These Terms Mean?
Logistics Land: Land designated for constructing warehouses, distribution centers, and transportation hubs.
Real Estate Transaction Tax: A tax imposed on the sale and transfer of ownership of real estate.
Bank Facilities: Loans or credit lines granted by a bank to a company to finance its activities.
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