Riyadh - Mubasher: Nafoudh Food Products Company announced the purchase of a commercial residential land with an area of 1,580 square meters in the Hittin district of Riyadh, as part of its strategic plan to expand its business and expand and develop its headquarters.

The company explained, in a statement on "Tadawul", today, Thursday, that the value of the deal amounts to 22.13 million riyals (excluding real estate transaction tax and pursuit fees).

She pointed out that the deal will be financed through the company's own resources.

She also pointed out that through purchasing this property, it seeks to establish new commercial offices, while developing it to be the company's headquarters.

The company explained that the financial impact is represented by the increase in the company’s fixed assets, which will be reflected in financial ratios such as return on assets (ROA). The land also represents a strategic investment whose future value may increase, which enhances the evaluation of the company’s assets and net worth.

She noted that owning the property will enable the company to save recurring rental costs and avoid future rental fluctuations, which supports its financial sustainability and enhances its operational stability.