Alandalus Property Unit Buys Land in Saudi Arabia for SAR24 Million

Alandalus Property (SASE:4320) subsidiary Alandalus litashid almabany aldirasia Co. acquired a piece of land in Riyadh, Saudi Arabia, for 23.7 million Saudi riyals. Nasser bin Abdul Rahman Al Majed sold the 11,000-square-meter property that is earmarked for use as an educational complex, according to a Sunday release. The Tadawul-listed property company financed the deal through its own financial resources and a bank facility so that it may build an educational complex at the site later.