Riyadh – Anaam International Holding Group has purchased a real estate asset worth SAR 23 million on Prince Muhammad Bin Abdulaziz Street in Jeddah through a public auction.
This step will enable the company to expand and diversify its investments and acquire income-generating assets, according to a press release on Wednesday.
The administrative residential building consists of four office floors of 1,740 metres each, a ground floor, a basement, and 16 apartments.
Self-financed by the company, the transaction will have a financial impact on the revenues, which will be reflected in the first quarter (Q1) of 2023.
It is noteworthy to mention that in May, the extraordinary general meeting (EGM) of Anaam approved the board’s proposal to increase the capital by SAR 210 million.
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