Asas Makin Real Estate Development and Investment Company announced the purchase of an 8.8 thousand m² land parcel from Abdulrahman Rashid Hamad Al-Hamlan in Al-Arad district of Riyadh city, for approximately 52.98 million riyals, to build residential units.
The company stated in an announcement that the purchase was made on 28 August 2025 and will be financed through bank financing and part of the company’s resources, noting that there are no related parties involved.
The company clarified that it will develop the purchased land and build residential units for ownership sale, explaining that the financial impact of this transaction is expected to increase the projects under development item within current assets, with this impact to be reflected during 2026.
