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Banan Real Estate Company announces that its subsidiary, Al-Aziza Real Estate Investment and Development Company, has renewed its contracts with Al-Haqbani Group Trading Company.
31/12/2023
| Element List | Explanation |
|---|---|
| Introduction | Banan Real Estate Company announces that its subsidiary, Al-Aziza Real Estate Investment and Development Company, has renewed its contracts with Al-Haqbani Group Trading Company. |
| Date of Announcement of the Award | 2023-12-28 Corresponding to 1445-06-15 |
| Contract Subject Matter | Renewing a lease contract for offices, showrooms, and warehouses in Riyadh and Dammam. |
| Date of Signing the Contract | 2023-12-28 Corresponding to 1445-06-15 |
| Contract Value | 5,530,580 |
| Contract Details | Renewing a lease contract for offices, showrooms, and warehouses in Riyadh and Dammam. The total value of the contracts is 5,530,580 riyals, including value added tax. It is paid in two installments every year. The lease period begins on 01/01/2024, corresponding to 19/06/1445H, and ends on 31/12/2025, corresponding to 22/07/1447H. |
| Contract Duration | 2 Years. |
| Financial Impact and the Relevant Period | It is expected that this contract will have a positive financial impact on the company’s revenues and results starting from the first quarter of the fiscal year 2024. |
| Related Parties | Chairman of the Board of Directors, Abdul Mohsen Abdul Aziz Saleh Al-Haqbani. Vice Chairman of the Board of Directors, Ahmed Abdel-Rahman Abdel-Aziz Al-Haqbani. Member of the Board of Directors, Faisal Muhammad Abdulaziz Al-Haqbani. |
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