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Banan Real Estate Co. announces signing a Memorandum of Understanding with Armah Sports Company to develop 6 fitness clubs within five years by establishing a real estate fund
04/08/2024
| Element List | Explanation |
|---|---|
| Introduction | Banan Real Estate Co. announces the signing of a memorandum of understanding with Armah Sports Company to develop 6 fitness clubs within five years by establishing a real estate fund |
| Memorandum Signing Date | 2024-08-03 Corresponding to 1446-01-28 |
| Counterparty | Armah Sports Company |
| Memorandum Subject | To develop 6 fitness clubs through the establishment of a real estate investment fund, with Banan Real Estate Company committed to managing its financing and structuring. |
| Memorandum Duration | One year |
| Related Parties | none |
| Financial Impact | If the fund is launched and clubs are developed, the financial impact will be positive. This will generate revenues from development operations, in addition to the company receiving its share of the fund’s profits. This could strengthen the company’s financial position and increase opportunities for future growth and expansion. |
| Additional Information | Banan Real Estate Company is committed to establishing a real estate fund for the purpose of financing sports projects and negotiating with financial companies licensed by the Capital Market Authority and relevant authorities to appoint the fund manager and complete the appointment of service providers for the fund. |
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