Cenomi Centers sells land plot in Al-Kharj for SAR 100M

Arabian Centres Co. (Cenomi Centers) announced the sale of a land plot to Saleh Mohammed Alsedairy in Al-Kharj city, located on the Riyadh-Al-Kharj Road, for SAR 100 million (excluding real estate transaction tax and brokerage fees).

According to a statement on Tadawul, this transaction is part of the company’s program to divest a portfolio of non-core assets, with a total estimated market value of approximately SAR 2 billion.

The land plot, which spans an area of 425,400 square meters, has a book value of SAR 93.3 million in the company's financial statements as of March 31, 2025.

Mushar Attorney of Law and Legal Consultations managed the transaction, as the proceeds will be utilized to inject and strengthen Cenomi Centers’ internal resources.

This transaction will positively affect Q2 2025 financials, the statement highlighted.