Banan Real Estate Co. Announces Purchase Land in the value of 19,937,016 Saudi Riyal

Element List	Explanation
Introduction	Banan Real Estate Company is pleased to announce the completion of land purchase procedures in the Al-Qadisiyah district, in the city of Riyadh.
Transaction Details	Banan Real Estate Company is pleased to announce the purchase of an area of 25% of Blocks No. (15-18-19-20) of Scheme No. 1358/B in Al-Qadisiyah District, Riyadh City. The area of 25% of the blocks is estimated at 10,069 square metres.
Transaction Value	19,937,016 Saudi Riyal
Transaction Terms	None.
Parties of the Transaction	Banan Real Estate Company, and Fahad Saad Almarzouq.
Transaction Funding Method	The transaction was financed from the facilities granted to the company by Riyad Bank, which are in compliance with Islamic Sharia.
Transaction Execution Date	2023-08-31 Corresponding to 1445-02-15
Description of the Business of the Asset forming the Subject Matter of the Transaction	Lands.
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction	None.
Transaction reasons	Increase the company's real estate portfolio.
Expected Impact of the Transaction on the Company and Its Operations	Increasing the profits and revenues of the company during the fiscal year 2023.
Related Parties	Board member Naif Abdullah AlSufian purchased the remaining area, valued at 75%.

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