Element List	Explanation
Introduction	With reference to the announcement by Riyadh Development Company of its intention to establish a simplified joint-stock company between Riyadh Development Company and Riyadh Holding Company for the development of Al-Deera area, with Riyadh Development Company having a 46.34% share in the new entity (Al-Deera Development Company for Real Estate Development and Investment), through an in-kind contribution of the Al-Taamir Commercial Wholesale Center, valued at (675) million Saudi Riyals, and the approval of the General Assembly held on 15-08-2024 AD to establish the company and the in-kind contribution.
Previous Announcement	Riyadh Development Company announces the latest developments regarding the signing of a memorandum of understanding with Riyadh Holding Company to establish a unified entity for the development of the Al-Deera neighborhood markets.
Date of Previous Announcement on Saudi Exchange’s Website	2024-07-25 Corresponding to 1446-01-19
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	Riyadh Development Company announces the completion of the transfer of the contributed asset (Al-Taamir Commercial Wholesale Center) to the sister company, Deera Development and Real Estate Investment Company, noting that there is no financial impact resulting from this procedure.
The costs associated with the event, and if they have changed or not with indication of the reasons.	None