BAAN Holding unveils SAR 418m asset acquisitions through share issuances

BAAN
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Riyadh - Mubasher: The extraordinary general meeting (EGM) of BAAN Holding Group Company approved two major asset acquisition deals with a combined value of approximately SAR 418 million on 23 April 2026.

The approved transactions will be financed through capital increases through the issuance of 304.96 million total new ordinary shares, according to a bourse filing.

The shareholders greenlighted acquiring real estate assets from Al Oula Real Estate Development Company for SAR 178.50 million. In return, BAAN Holding will issue 65.57 million new shares.

The shares resulting from the transaction will be allocated to three companies designated by Al Oula, namely Ouj Al Mada Real Estate Development and Investment Company, Ouj Al Majal Company, and Ouj Al Shatea Company.

Moreover, the equityholders approved the acquisition of hotel and land assets from Abdulmohsen Abdulaziz Al Hokair Holding Group Company for SAR 239.39 million.

The transaction will be settled through the issuance of 239.39 million new shares that will be allocated to Al Hokair Holding

The assets comprise three hotels, namely DoubleTree by Hilton Riyadh in Al Muruj District, Radisson Blu Corniche Hotel Jeddah in South Obhur District, and Holiday Inn Jeddah Gateway Hotel in Al Nuzha District.

Meanwhile, the completion of the Al Hokair Holding's transaction remains subject to written approvals from all lending banks holding mortgages over the assets, confirming that the mortgages will be released before ownership is transferred to BAAN Holding.

Source: Mubasher Source: {{details.article.source}}