The company said in a statement to the Saudi market that this value “does not include the real estate disposal tax and the quest commission,” indicating that the land is located in the city of Khobar in the Al-Murjan neighborhood, south of the Aziziyah district, on King Fahd Road.
The company stated that it will use the amount collected from the deal to achieve its strategy “aimed at growth and expansion, and maximizing the total return for shareholders by increasing and diversifying investments and seizing the expected growth opportunities in the communications and information technology sectors in the Kingdom and the region.”
And the Saudi Telecom Company had achieved net profits in the third quarter of the year 2022, amounting to 3.54 billion riyals (942.7 million dollars), while the company’s net profits in a period of 9 months amounted to 9.41 billion riyals (about 2.5 billion dollars).
Investors are awaiting the company’s announcement of its business results for the fourth quarter of last year, in addition to announcing its results for 2022.
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