(MENAFN- khaleej times) the iconic pepsi factory on sheikh zayed road in dubai, one of the city's most recognisable landmarks, may be consigned to the pages of history soon. dubai refreshment pjsc, the company that owns the premises and the bottler of the us beverage major's products in the uae, has sold the land to al futtaim private company llc. the plot was used by the company as the factory, warehouse and offices for all pepsi-related brands.
the deal was signed on june 23 and was closed on june 26, according to details available on the dubai financial market website.
in an announcement to the dubai financial market on june 26, dubai refreshment said that the property has been sold for dh252 million. the reason for the sale is that the company no longer fully uses the plot of land and has moved its facilities to dubai investments park 2.
“since the company no longer fully utilises the property, the shareholders have decided to sell it under the conditions specified in the resolution of the general assembly held on june 14, 2023,” dubai refreshment said in the dfm disclosure.
the sale is expected to be reflected as a one-time gain in the company's finances.
also read:
first-time dubai developer sells out two identical towers worth over dh204 million within days of launch
dubai: bluewaters island's most expensive penthouse sold for dh80 million
dubai property developer pure gold living unveils new dh300m projects
MENAFN28062023000049011007ID1106513524
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.