Z7_K8M0I8402PTU806OF5GPF03SV3

BATIC

31 October, 2024 15:52

Batic Investment and Logistics Co. announces the purchase by Batic Real Estate Co. (a wholly owned subsidiary of Batic) of a property consisting of land on which are six newly built warehouses, for a value of 39.5 million riyals and an expected return of 8.7%.

Element ListExplanation
Introduction Batic Investment and Logistics Co. announces that Batic Real Estate Co. (a wholly owned subsidiary of Batic) has completed on Thursday 31/10/2024 the purchase and registration of a property consisting of six newly built warehouses (fully rented for an amount of 3.65 million riyals "excluding tax" and with an expected return rate of 8.7%) and located on a land with an area of (16,000 square meters) in Taybah district, Riyadh, for an amount of 39.5 million riyals (excluding real estate transfer tax and commission)
Transaction Details On The Thursday 31/10/2024, Batic Real Estate Co. (a wholly owned subsidiary of Batic) completed the procedures for purchasing and registering the property, which consists of six newly built warehouses that were completed four months ago (fully rented for an amount of 3.6 million riyals “excluding tax” and with an expected return rate of 8.7%) located on the land with an area of (16,000 m2) in Taybah district, Riyadh, with a total value of (39.5 million riyals) only, thirty-nine million and five hundred thousand Saudi riyals, "excluding tax and commission”
Transaction Amount 39.5 million riyals (excluding tax and commission)
Transaction Conditions There are no special conditions and the deal was completed according to the usual and followed procedures.
Parties of the Transaction Batic Real Estate Co. “a wholly owned subsidiary of Batic” (buyer) Miss Hanan Mohammed Salem Baqader (seller)
Transaction Financing Method 66% from the company’s credit facilities from Bank Albilad and 34% from the company’s resources.
Date of Entering Into The Transaction 2024-10-31 Corresponding to 1446-04-28
Description of Activity of The Asset Subject of The Transaction Consisting of six newly warehouses that were built four months ago (fully rented for an amount of 3.65 million riyals “excluding tax” and with an expected return rate of 8.7%) located on land with an area of (16,000 square meters) in Taybah district, Riyadh
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction N/A
Transaction reasons This deal comes in support of the ”plans currently being pursued by Batic Real Estate Co. (a wholly owned subsidiary of Batic) to explore investment opportunities in the logistics sector, whether through purchasing and developing land or acquiring real estate logistics projects in Riyadh. This approach aims to benefit from the rapid growth in the sector, and to achieve sustainable and rewarding returns for shareholders.
Expected Impact of the Transaction on the Company and Its Operations Increase in investment properties of Batic Real Estate Co. (a wholly owned subsidiary of Batic) by 41.97 million riyals Increase in operating revenues of Batic Real Estate Co. (a wholly owned subsidiary of Batic) by 3.65 million riyals annually
Related Parties N/A

Other Announcements

ACWA POWER
2025-06-30

ACWA Power Company Announces an Update on its Capital Increase through Rights Issue and the Details Related to the Number of New Shares, Offer Price and the Resulting Share Capital Increase

Read More
ALKHALEEJ TRNG
2025-06-30

Alkhaleej Training and Education Co. Announces an update on Extending the expiration date of the agreement from March 31, 2025, to June 30, 2025.

Read More
FUTURE VISION
2025-06-30

Addendum Announcement from Future Vision for Health Training Co. in regards to Extraordinary General Assembly Meeting Results (First Meeting)

Read More
Z7_K8M0I84021EV8060AAR40C00B7