Marble Design’s subsidiary buys 2 land plots for SAR 4.95 mln

15/08/2023 Argaam

Marble Design’s subsidiary buys 2 land plots for SAR 4.95 mln

Logo of Marble Design Co.

Marble Design Co. purchased, through its 100%-owned subsidiary Tariq al-Maskan Company for Real Estate Development, two land plots for SAR 4.95 million, excluding real estate transaction tax and brokerage fees.

 

The company bought land plot No. 248 on an area of 3,500 square meters (sqm) and plot No. 250 on an area of 3,815 sqm, Block 19 in Sudus. Together the two plots span a total area of 7,315 sqm.

 

The deal will be financed by the subsidiary’s internal resources and was concluded on Aug. 14, the company said in a statement to Tadawul.

 

The company will use the land to build a showroom and a warehouse to display and store its products and support its expansion plans.

 

The deal will increase the non-current assets in the company’s 2023 balance sheet once the project is finalized.

 

There are no related parties to the deal, Marble Design added.

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