“Adeer” signs a contract to market and sell a plot of land with an area of 454 thousand square meters in Jeddah
Adeer Real Estate Company announced the signing of a contract with Hamad bin Abdullah Al-Muhaisen, Nahdat Al-Mashaer General Contracting Company and others, yesterday, Monday, to market and sell the plot of land owned by them in the Al-Kawthar neighborhood in Jeddah, with a total area of (454,333.76 square metres).
The value of the contract is estimated at an approximate percentage equivalent to 8% of Adeer Real Estate Company’s revenues, according to the company’s latest approved annual financial statements.
According to "Saudi Arabia trading"The contract extends for 4 calendar months, starting from the date of signing, and it is expected to have a positive financial impact when the property is sold and emptied for the benefit of the buyer and the company’s fees are collected.
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