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Al-Andalus Real Estate Company, listed in the Saudi market, announced the completion of its wholly-owned subsidiary, Al-Andalus Logistics Facilities Company, to buy land for logistical use in Al-Mashaal neighborhood in Riyadh, with a total value of SAR 83.8 million, including real estate transactions tax and pursuit fees.
The company confirmed that the land area is 44.55 thousand square meters, and was purchased from Ahmed Sulaiman Al-Fahad and Sons, with the aim of developing logistics warehouses, as part of the company’s strategy for the period from 2026 to 2030, which aims to diversify its investment portfolio and expand the logistics sector, according to the company’s statement on “Tadawul” on Monday.
The land area is 44.55 thousand m2 and was purchased to develop logistics warehouses as part of the company’s strategy for the period from 2026 to 2030
She pointed out that the financing of the transaction will be through the company’s self-financial resources, in addition to the available banking facilities, stressing that its completion was on October 18, 2026.
The company expected the financial impact of the deal to begin to appear on its financial statements during the fourth quarter of 2026.
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