| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of Dar Alarkan Real Estate Development Co. regarding the disclosure of lands subject to the White Land Tax |
| Previous Announcement | Its Previous Announcement on Lands Subject to the White Land Tax |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-09-18 Corresponding to 1447-03-26 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The company states that it has received three invoices related to the White Land Tax up to the date of this announcement, as follows: 1. First invoice: SAR 48,318,443 2. Second invoice: SAR 108,104,835 3. Third invoice: SAR 44,728,666 These invoices pertain to three land zones within the Shams Al Riyadh project, which is licensed under the WAFI program. Given that the project is under development and is licensed by the WAFI program within the framework of the Off-Plan Sales Committee, and that the project units have been sold to customers pursuant to contracts notarized with the WAFI program under the Real Estate General Authority, the company would like to clarify that none of these lands are owned by the company, as the entire project has been sold, and the company has explained this to the relevant authorities. |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | In line with the nature of the case and the stage of progress in developing the project, there is no material financial impact on the financial statements. |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | The Company confirms its constant commitment to transparency and disclosure in a manner that serves the interests of shareholders and upholds the highest standards of governance and compliance with relevant regulatory provisions. The Company will disclose any material developments in due course. |