{"id":92984,"date":"2024-12-30T00:00:00","date_gmt":"2024-12-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/"},"modified":"2024-12-30T00:00:00","modified_gmt":"2024-12-30T00:00:00","slug":"baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/","title":{"rendered":"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn"},"content":{"rendered":"

Baan Holding Group<\/a><\/strong> moves<\/strong> to expand its real estate portfolio:<\/strong> Baan (formerly Alhokair Group) inked two separate binding purchase agreements with AlOula Real Estate Development<\/a> and Alhokair Holding<\/a> to acquire real estate assets worth a combined SAR 833.1 mn, the firm said in a disclosure to Tadawul<\/a>. The purchase agreements come as Baan looks to expand its hotels and real estate portfolio in Saudi. <\/p>\n

Breakdown: <\/strong>The first agreement sees Baan acquiring 86 residential units at a combined value of SAR 178.5 in the Ajdan Waterfront Project Tower in Al Khobar from AlOula, with Ajdan Real Estate Development Company stepping in as guarantor for the sale. Meanwhile, a separate agreement with Alhokair sees Baan acquiring six properties worth SAR 651.6 mn in Riyadh and Jeddah, hosting three hotels \u2014 Hilton DoubleTree, Radisson Blu Corniche, and Holiday Inn Jeddah Gateway. Both transactions are standalone and the completion of one sale is not tied to the other, the disclosure said. <\/p>\n

Paying the tab: <\/strong>Baan will finance the acquisitions by increasing its capital 96.8% to SAR 620 mn and issuing 305 mn new shares to AlOula and Alhokair. The parties to the sale have agreed to price the newly-issued shares at SAR 2.722 apiece based on the three-month volume weighted average closing price (3M VWAP). The ownership reshuffle will dilute current shareholders' stakes by 49.2%, impacting voting rights. <\/p>\n

A small snag: <\/strong>The Alhokair transaction poses a conflict of interest, with Baan board members and major shareholders holding ties to Alhokair Holding. To address this, related parties will abide by voting restrictions when determining decisions relating to the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

The transactions will be executed via the issuance of 305 mn new shares to Alhokair and AlOula<\/p>\n","protected":false},"author":1,"featured_media":92985,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2574],"tags":[3605,3604,3603,10,106],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-alhokair-holding","tag-aloula-real-estate-development","tag-baan-holding-group","tag-enterpriseam-ksa","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"c4d9439b-86d3-4b86-bce8-d422547c7dd2","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/2514.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn","related_issue":[92977],"teaser":"The transactions will be executed via the issuance of 305 mn new shares to Alhokair and AlOula","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.99f3b0a9-7b69-48e7-96f8-84c40420bce8.mp3"},"yoast_head":"\nBaan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn\" \/>\n<meta property=\"og:description\" content=\"The transactions will be executed via the issuance of 305 mn new shares to Alhokair and AlOula\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-30T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn\",\"datePublished\":\"2024-12-30T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/\"},\"wordCount\":267,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Alhokair Holding\",\"AlOula Real Estate Development\",\"Baan Holding Group\",\"EnterpriseAM KSA\",\"Real Estate\"],\"articleSection\":[\"REAL ESTATE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/\",\"name\":\"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-12-30T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/","og_locale":"en_US","og_type":"article","og_title":"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn","og_description":"The transactions will be executed via the issuance of 305 mn new shares to Alhokair and AlOula","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/","og_site_name":"KSA","article_published_time":"2024-12-30T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn","datePublished":"2024-12-30T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/"},"wordCount":267,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1","keywords":["Alhokair Holding","AlOula Real Estate Development","Baan Holding Group","EnterpriseAM KSA","Real Estate"],"articleSection":["REAL ESTATE"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/","name":"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1","datePublished":"2024-12-30T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/30\/baan-holding-inks-two-agreements-to-acquire-real-estate-assets-worth-sar-833-1-mn\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Baan Holding inks two agreements to acquire real estate assets worth SAR 833.1 mn"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2514.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/92984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=92984"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/92984\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/92977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/92985"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=92984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=92984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=92984"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=92984"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=92984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}