BCI sells Jeddah land plot for SAR 12.8M

Basic Chemical Industries (BCI) announced additional details on the sale of a land plot in Jeddah for SAR 12.8 million.

In a statement on Tadawul, the company said it has received the full proceeds and completed the ownership transfer. The deal was executed with Omar bin Abdulkarim bin Kassem on May 11.

The land’s book value stood at SAR 820,000, with the transaction expected to support liquidity and cash flows and be reflected in the company’s financial results for the relevant period. BCI confirmed that no related parties are involved.

Based on the difference between the selling price and book value, the gain is estimated at around SAR 12 million.