| Element List | Explanation |
|---|---|
| Introduction | With reference to Riyadh Development Company’s (ARDCO) previous announcement regarding details of the lands owned by the Company and subject to the White Land Tax regulation, issued on 07-09-2025. |
| Previous Announcement | Riyadh Development Company’s (ARDCO) announcement regarding the lands owned by the Company and subject to the White Land Tax regulation |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-09-07 Corresponding to 1447-03-15 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Further to Riyadh Development Company’s (ARDCO) previous announcement regarding details of the lands owned by the Company and subject to the White Land Tax regulation, issued on 07-09-2025, and in accordance with transparency and commitment of the Company’s full compliance with applicable laws and regulations, Riyadh Development Company (ARDCO) announces that it has received a number of White Land Tax invoices with a total value of SAR 16,785,113.32, relating to lands located within the geographical zones specified under the White Land Tax Program in the City of Riyadh. The Company clarifies that it is currently reviewing the tax invoices and completing the necessary regulatory procedures in this regard, including submitting formal objections to certain invoices in accordance with the approved rules and regulations, and completing the related statutory requirements, based on the Company’s statutory right to object to such fees. The Company further indicates that it is currently assessing and developing quality real estate & community development projects on a number of the lands subject to the fees, and is reviewing benefiting from the relevant new regulations and the available exemptions in accordance with the applicable laws and regulations, within the framework of achieving optimal utilization of its assets and in line with the Company’s strategy announced in early 2023 under the theme “Investing for Growth,” which focuses on enhancing its asset portfolio efficiency and transforming assets into projects that aim to maximize total shareholder return. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
