Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) has sold its full-shares in Al-Akaria Hanmi for project management to Saudi Hanmi Global in exchange for SAR 1.2 million.
Al Akaria's full-shares in Al-Akaria Hanmi represent 60% of the company's ownership, according to a bourse filing on Tuesday.
The transaction terms include the approval of the Ministry of Investment to amend the license, the Ministry of Commerce to amend the company’s incorporation contract and the governmental authorities.
Al Akaria will use the transaction's proceeds to finance its other projects.
