Riyadh-Mubasher: Tihama Advertising and Public Relations Co. has sold a property in Jeddah for SAR 33 million, the company said in a bourse statement.
The sale proceeds will be used in repaying loans for Murabaha Investment and Installment at a value of SAR 13.7 million, while the remaining SAR 19.2 million will be used in financing the company’s operating activities.
Tihama will generate capital gains of nearly SAR 18 million from the deal, which will be reflected on the consolidated financial results for the period ended 31 December.
