| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement made by Dallah Healthcare Company ("Dallah Company ") on the Saudi Exchange (Tadawul) website on 26/12/1445H (corresponding to 02/07/2024G) regarding the signing of a Memorandum of Understanding ("MoU") with Dallah Real Estate Company ("Dallah Real Estate"), Tatweer Company ("Tatweer"), and Aljazira Capital ("Aljazira Capital"), aiming to establish a private real estate fund valued at over SAR 1.2 billion. The fund's objective is to develop a mixed-use project, as per the approved preliminary study, which will include commercial, office, hospitality, and healthcare spaces. Dallah Company is pleased to announce the signing of a Sale and Purchase Agreement with Wahet Al-Nakheel Real Estate Fund ("the Fund") for undeveloped lands located in the Al-Nakheel District, covering a total area of 16,800 square meters. The transaction is valued at SAR 195.65 million. As part of this transaction, Dallah Company will contribute its share by receiving in-kind units in the Fund and depositing an additional cash amount of SAR 8.69 million, ensuring that the total investment units owned by Dallah match those of Dallah Real Estate and Tatweer. Dallah Real Estate and Tatweer will also deposit their respective shares into the Fund, bringing the total capital of the Fund to SAR 613 million, divided equally among the three parties. The Fund will be managed by Aljazira Capital in compliance with the requirements of the Capital Market Authority |
| Previous Announcement | Dallah Healthcare Company announces the signing of a Memorandum of Understanding with Dallah Real Estate Company, Tatweer Company, and Aljazira Capital |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-07-02 Corresponding to 1445-12-26 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Signing of a Sale and Purchase Agreement for undeveloped lands located in the Al-Nakheel District, with a total area of 16,800 square meters, with the Wahet Al-Nakheel Real Estate Fund |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
