For a total value of SAR 742 million, Barwa Real Estate Company announced the signing of an agreement for the sale of the land plot owned by Riyadh Oasis Real Estate Company (a wholly owned subsidiary of Barwa Group), provided that the sale process will be completed and emptied (registered) with the notary upon fulfillment of all terms and conditions of the agreement and payment of the rest of the sale price within a period not exceeding 90 days from signing the agreement, which saw Barwa receive the first payment under the sale price account.

Barwa Real Estate Company announced the signing of the agreement.

The Group had purchased this land, located in the Janadriyah area, in 2016, with an area of about two million two hundred and sixteen thousand sixty square meters, at a price of SAR 659,277,850, and Barwa spent other cash amounts on the land, including land development costs and financing costs.

Barwa has also spent other cash amounts on the land, including land development costs and financing costs.

The estimated amount of profits resulting from the transaction will be announced after the completion of the sale process and the release of the land to the buyer to enable the calculation of all costs and expenses related to the land.