×

the news

Banan Real Estate Company announces that its subsidiary, Al-Aziza Real Estate Investment and Development Company, has renewed its contracts with Fad Company for Mechanical and Electrical Equipment

02/01/2024

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 Fad Company for Mechanical and Electrical Equipment.
Date of Announcement of the Award 2024-01-02 Corresponding to 1445-06-20
Contract Subject Matter Office and warehouse lease contract
The Entity with Which the Contract was Signed Fad Company for Mechanical and Electrical Equipment
Date of Signing the Contract 2023-12-31 Corresponding to 1445-06-18
Contract Value 1,337,105
Contract Details Renewal of an office and warehouse rental contract in Riyadh.  The total value of the contracts is 1,337,105 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 11/07/1447H.
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.

Newsletter

Loading