Riyadh – Mubasher: Banan Real Estate Company and its subsidiary Al Azizah Real Estate Investment and Development Company jointly plan to acquire a stake in Qimam Nashaz Real Estate Development Company.
The listed company’s board members approved the transaction on 22 December 2024,
Banan Real Estate is set to purchase shares from Samaya International Holding Company
Qimam Nashaz Real Estate Development, a simplified joint-stock company, will buy 1.56 million shares at a combined value of SAR 15.62 million.
Meanwhile, Banan Real Estate will acquire 1.63 million shares at an aggregated value of SAR 16.33 million.
Last September, the Tadawul-listed company established a simplified joint stock firm to own, manage, and develop lands as well as buildings.
