Taiba Holding Company announces that Al-Aqeeq Real Estate Development Company – a subsidiary of Taibeh Holding – has signed a lease agreement for Al Majidi Housing Center

Taibah Holding Company announces that Al-Aqeeq Real Estate Development Company (Al-Aqeeq) – a subsidiary of Taibah Holding, which has a good share of 89.898% of its capital – signed on 14/20/19 / 1426H Al-Majidi Residential Center owned by the Agate located on the plot No. 132 in the central area surrounding the Prophet’s Mosque with a total value of 230,000,000 two hundred and thirty million riyals paid in installments for a period of seven and a half years starting from 2017/1/1 inclusive a grace period and obtaining approvals Permits and renovations – to be performed by the tenant – m (6) months starting from 2017/1/1 AD until 2017/6/30 AD Note that this contract is not with a related party. The financial impact of the leasing process will be reflected in the financial statements of Taiba and Al-Aqeeq Company as of the beginning of the third quarter of 2017.