Riyadh-Mubasher: Qassim Agriculture Co. has sold its agricultural project in Al Jouf province to Fakieh Poultry Farms Co. for SAR 50 million, the company said in a bourse statement on Monday.
The agricultural company will receive SAR 40 million immediately after land evacuation and SAR 10 million after issuance of sukuk for ministerial decrees.
Qassim also said it will use a portion of the deal proceeds in paying the remaining amount due from its stake in the partnership with Wabel Al-Arabia for Investment, while the other amount will be used in real estate investments.
