Saudi-based Al Baha Investment and Development Company said its key subsidiary, Elegant Centers, has bought a 25,058 sq m industrial plot in Riyadh from Saudi Modern Factory Company for SR24 million ($6.4 million).
The plot already has a 4,500-sq-m administrative building consisting of three floors, and a warehouse built on a 16,000 sq m area, said Al Baha Investment and Development Company in its filing to the Saudi bourse Tadawul.
Through this plot purchase, the Saudi firm aims to diversify its investments and boost the group's real estate portfolio, it added.-TradeArabia News Service
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