| Element List | Explanation |
|---|---|
| Introduction | Enma Alrawabi Company announces the sale of the Al-Namothajiya Business Building located in Al-Namothajiya District, Riyadh. |
| Transaction Details | The sale of a commercial building located in Al-Namothajiya District, Riyadh, with a total land area of 948 square meters. |
| Transaction Amount | SAR 21,050,000 |
| Transaction Conditions | None |
| Parties of the Transaction | 1. First Party (Seller): Enma Alrawabi Company 2. Second Party (Buyer): AlNaseehah AlOula Investment Company |
| Transaction Financing Method | Not applicable |
| Date of Entering Into The Transaction | 2025-06-26 Corresponding to 1447-01-01 |
| Description of Activity of The Asset Subject of The Transaction | A commercial building located in Al-Namothajiya District, Riyadh, with a land area of 948 square meters. The building is leased to Basamh Trading Company Limited (Single Shareholder Company) for a term of ten (10) years. |
| Asset Book Value | SAR 8,546,325 |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | 1. Development works commenced in August 2023 and were completed by the end of 2024, with a total cost of SAR 8,546,325 including the land value. 2. A lease agreement was signed for a duration of ten (10) years, starting from 15 April 2025 to 14 April 2035, with a total lease value of SAR 13,600,000. |
| Transaction reasons | 1. To strengthen the company’s financial position. 2. Asset reallocation. |
| Expected Impact of the Transaction on the Company and Its Operations | The sale of the Al-Namothajiya property is expected to have a positive impact on the company’s financial position through an increase in net profit and enhanced liquidity. |
| Details of Using The Proceeds of the Asset Sale | To strengthen the company’s financial position and support future growth plans. |
| Related Parties | The following members of the Board of Directors of Enma Alrawabi Company are also board members of AlNaseehah AlOula Investment Company: Mr. Fahad bin Ibrahim Almousa, Mr. Abdulaziz bin Ibrahim Almousa, Mr. Ahmed bin Ibrahim Almousa |