Middle East Healthcare Company (Saudi German Health) Announces the Sale of a Plot of Land Valued at SAR 122,000,000 (Exclusive of Real Estate Transaction Tax)

24 March 2025
Introduction
Introduction

Middle East Healthcare Company (Saudi German Health) announces the completion of the sale of a plot of land owned by the company, located in the Al-Sahafa district of Riyadh, with a total area of 4,000 square meters. The sale was concluded with a total value of SAR 122,000,000 (exclusive of real estate transaction tax).
Transaction Details

Sale of a 4,000 square meter plot of land located in the Al-Sahafa district of Riyadh with a total value of SAR 122,000,000 (exclusive of real estate transaction tax).
Transaction Amount

SAR 122,000,000 (exclusive of real estate transaction tax)
Transaction Conditions

N/A
Parties of the Transaction

Seller:

Middle East Healthcare Company (Saudi German Health)

Buyers:

- Al-Lujain Architectural Company for Development and Real Estate Investment, with a 50% ownership share

- Abdullah Hamad Al-Mugames Real Estate Development Company, with a 25% ownership share

- Mohammed Abdulrahman Al-Mugames Real Estate Development Company, with a 25% ownership share
Date of Entering Into The Transaction

2025-03-23 Corresponding to 1446-09-23
Description of Activity of The Asset Subject of The Transaction

Residential/Commercial Building
Asset Book Value

SAR 7,999,592
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction

N/A
Transaction reasons

This sale is part of the company's efforts to strengthen its financial position and improve cash flow.
Expected Impact of the Transaction on the Company and Its Operations

The financial impact of the transaction is expected to be reflected in the financial results of the quarter in which the sales occurred.
Details of Using The Proceeds of the Asset Sale

Financing the ongoing activity
Related Parties

None