Enma Alrawabi Company announces the sale of a commercial building in Al-Sahafa district for 61,250,000 Saudi Riyals (excluding real estate transfer tax).

Enma Alrawabi Company announces the sale of a commercial building in Al-Sahafa district for 61,250,000 Saudi Riyals (excluding real estate transfer tax).

|Element List||Explanation|

|Introduction||Enma Alrawabi Company announces the sale of a commercial building in Al-Sahafa district in Riyadh.|

|Transaction Details||Commercial building on the commercial strip in Al-Sahafa district in Riyadh with an area of 2,500 square meters.|

|Transaction Value||61,250,000 Saudi Riyals.|

|Transaction Terms||Not available.|

|Parties of the Transaction|| 1- First Party (Seller) Enma Alrawabi Company

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2- Second Party (Buyer) Al Mahmal Investment Company.

|Transaction Funding Method||Not applicable.|

|Transaction Execution Date||2024-05-06 Corresponding to 1445-10-27|

|Description of the Business of the Asset forming the Subject Matter of the Transaction||Commercial building on the commercial strip in Al-Sahafa district in Riyadh with an area of 2,500 square meters.|

|Asset Book Value||40,312,500 Saudi Riyals.|

|Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction||The property subject to the transaction was leased to Saudi Post under an annual contract with a total value of 1,200,000 Saudi Riyals. It was purchased on 07/03/2023 AD, and Enma Alrawabi Company’s share of the rent for the building was collected with a value of 1,000,000 Saudi Riyals.|

|Transaction reasons||Early exit with high and fast capital gains.|

|Expected Impact of the Transaction on the Company and Its Operations||The deal is expected to have a positive impact on the company's financial results after the completion of the evacuation process