Jazan Development and Investment Co. — Capital/Financing Update 2013

Jan 30, 2013

JAZAN DEVELOPMENT COMPANY (JAZADCO) ANNOUNCES THE SALE OF SOME PIECES OF RESIDENTIAL LAND AT SR 36 MILLION

6090 · 30/01/2013 16:04:58 · Announcement #28700 · View on Saudi Exchange

JAZAN DEVELOPMENT COMPANY (JAZADCO) ANNOUNCES THE SALE OF SOME PIECES OF RESIDENTIAL LAND AT SR 36 MILLION

Jazan Development Company (JAZADCO) announces the sale of three pieces of residential land on 18/3/1434H corresponding to 30/1/2013 of a total area of 110,823 Sqm to a Saudi national company. The total land area was sold for SR 325 per Sqm and the total revenue generated from the transaction is SR 36,017,355 . The transaction will be reflected in the 1th quarter 2013 financial results and the money generated will be used to finance the company's under construction real estate projects and to meet other commitments.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.