Banan Real Estate to Acquire Stake in Qimam Nashaz
Deal News | Dec 24, 2024 | Zawya
Banan Real Estate Company, along with its subsidiary Al Azizah Real Estate Investment and Development Company, has announced its decision to acquire a significant stake in Qimam Nashaz Real Estate Development Company. This decision was affirmed by the board members on December 22, 2024. As part of the transaction, Banan Real Estate will acquire shares from Samaya International Holding Company. Specifically, Qimam Nashaz will purchase 1.56 million shares at the value of SAR 15.62 million, while Banan Real Estate will obtain 1.63 million shares for SAR 16.33 million. This move marks a strategic expansion in Banan's ongoing efforts to establish a comprehensive portfolio in real estate development, following its creation of a simplified joint stock company dedicated to land and property management.
Sectors
- Real Estate
- Investment
Geography
- Saudi Arabia – The transaction and all involved companies are based in Saudi Arabia, which is a key player in the regional real estate and investment sectors.
Industry
- Real Estate – The acquisition involves companies in the real estate sector, focusing on property development and land management.
- Investment – The transaction is an investment decision wherein shares are being acquired to bolster portfolio and market presence.
Financials
- SAR 15.62 million – The value at which Qimam Nashaz Real Estate Development will purchase 1.56 million shares.
- SAR 16.33 million – The value at which Banan Real Estate will acquire 1.63 million shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Banan Real Estate Company | Buyer | Company | A publicly listed company involved in real estate investment and development, acquiring stakes in other real estate entities. |
| Al Azizah Real Estate Investment and Development Company | Buyer | Company | A subsidiary of Banan Real Estate involved in the acquisition process alongside its parent company. |
| Qimam Nashaz Real Estate Development Company | Target | Company | A simplified joint-stock firm focused on real estate development, being acquired by Banan Real Estate and its subsidiary. |
| Samaya International Holding Company | Seller | Company | The company selling its stake in Qimam Nashaz Real Estate Development to Banan Real Estate. |