Arabian Centres Company (Cenomi Centers) sold a land plot in Al Kharj located on Riyadh-Al Kharj Road, with a total area of 425,390 square meters, for SAR 100 million.

The sale deal aligns with the company’s program to sell an identified portfolio of non-core assets worth around SAR 2 billion, according to a bourse filing.

The net book value of this land on the company’s financial statements amounted to SAR 93.30 million as of 31 March 2025.

Cenomi Centers will use the proceeds from this transaction to fund and support its internal resources.

The positive financial impact of the transaction is expected to appear in its financial results for the second quarter (Q2) of 2025.

SIMAH Rating Agency (Tassnief) recently assigned a long-term national scale entity rating of (A-) and a short-term entity rating of ‘T-3’ to Cenomi Centers.

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