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Riyadh, Saudi Arabia
Masqa Investment Company, listed in the Saudi Parallel Market (Nomu), announced the signing of a contract to sell 25% of the total housing units in the “Mesqa 30” project in Al-Safa neighborhood in Riyadh, for the benefit of the National Development Housing Corporation (Sakun), worth 13.47 million riyals.
The company confirmed that the value of the contract does not include the real estate transaction tax or the commissions of the quest, pointing out that the procedures for transferring the ownership of the units sold will be completed within a period not exceeding 60 days from the date of signing the contract, according to a statement of the company, on Wednesday.
The transfer of ownership of the sold units will be completed within a period not exceeding 60 days from the date of signing the contract
The company expected the contract to reflect positively on its financial statements as of the fourth quarter of 2026, confirming that there are no related parties in the transaction.
It is worth mentioning that Masqa Investment is a public and real estate joint stock company, established in Riyadh in 2020, and works in the field of real estate development and investment, the establishment of residential and non-residential units, affordable housing projects, contracting and real estate brokerage.
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