Riyadh – Mubasher: Saudi Parts Center Company purchased two land plots in Al Musafa district from Mawten Real Estate Company for SAR 6.19 million.
The assets are located in the industrial city in Riyadh, spanning 9,194 square metres, according to a recent bourse disclosure.
The listed company will establish a spare parts remanufacturing plant in addition to a central warehouse and offices on the land plots.
The firm will finance the transaction from its net cash flow balance of 2021.
The transaction resulted in raising the value of Saudi Parts Center's fixed assets by 94% at the end of last year, compared to 30 June 2021.
It is worth noting that the company began its trading on the Saudi Exchange (Tadawul) last February.
