Banan’s unit buys SAR 43.4M land plot in Riyadh

Logo of Banan Real Estate Co.

Banan Real Estate Co.’s subsidiary, Emaar Al Waseel Al Mutamayza Co., has acquired a 3,512.95-square-meter undeveloped land plot in Riyadh’s Al-Qirawan district for SAR 43.43 million, including real estate transaction tax and brokerage fees.

In a statement to Tadawul, Banan said the deal was concluded today, Aug. 9, and financed from its subsidiary’s capital. The parties to the deal are Emaar Al-Waseel and the heirs of the late Abdullah bin Saleh bin Ibrahim Al-Murshidi.

Banan plans…