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01-07-14

Saudi Etihad Atheeb sells USD42m property

(MENAFN) Saudi Etihad Atheeb, the fixed line telecommunications operator, has sold USD42.64 million-worth land and property in Riyadh, according to Arab News. Atheeb said that it has sold a building and two plots of land to an unidentified buyer. These assets had a book value of USD15.99 million, giving Atheeb a gain of USD26.65 million, which will be reflected in its first-quarter results, the statement said. Atheeb"s financial year starts on April 1.