“BAN” extends the stopping date for two real estate asset deals until next May
Company announced "Pan Holding" Agreeing to extend the final stop date for two real estate asset purchase deals, with each of the companies "First for real estate development" And company "Ajdan Real Estate Development"and"Abdul Mohsen Abdulaziz Al Hokair Holding Group Company" (Al Hokair Holding), to be dated May 1, 2026.
And it was "Pan Holding" It signed two agreements on December 29, 2024 with each of… "First Real Estate Development Company" In its capacity as a seller, and Ajdan Real Estate Development Company as a guarantor of the seller, according to which it was agreed that the company would acquire ownership of all residential units located in the tower of the Ajdan Waterfront project located in the city of Al-Khobar (the number of residential units is 86 real estate units), in exchange for issuing new shares in the company’s capital in favor of Al-Oula Real Estate Development Company or any of its affiliated companies as it determines and in accordance with the provisions of the agreement.
On the same date, the company signed an agreement with Abdul Mohsen Abdulaziz Al-Hokair Holding Group Company, in its capacity A seller, according to which it was agreed that the company would acquire ownership of six properties on which three hotels were built in the cities of Riyadh and Jeddah, in exchange for issuing new shares in the company’s capital in favor of Al Hokair Holding Company.
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