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Banan Real Estate Co. Announces an update on Signing a Memorandum of Understanding with Armah Sports Company to develop six (6) fitness clubs over five years through the establishment of a real estate fund.
09/04/2025
| Element List | Explanation |
|---|---|
| Introduction | Banan Real Estate Company is pleased to announce the signing of an Amended Annex to the Memorandum of Understanding on Tuesday, 08/04/2025, The amendment includes the development of ten (10) clubs instead of six (6), through the establishment of a real estate fund, its subsidiaries, or various financing sources. |
| Previous Announcement | Signing a Memorandum of Understanding with Armah Sports Company to develop six (6) fitness clubs over five years through the establishment of a real estate fund. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-08-04 Corresponding to 1446-01-29 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Signing of Amended Annex to the Memorandum of Understanding on Tuesday, 08/04/2025, to include the development of ten (10) clubs instead of six (6), through the establishment of a real estate fund, its subsidiaries, or various financing sources. |
| Reasons For The Delay on The Date of The Event Previously Announced | is not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | is not applicable |
| Delay consequences on the Company’s financial results | is not applicable |
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