Jazan Development and Investment Co. Announces the Completion of Procedures for Renewing the two Lease Contracts for Shrimp Farm Lands with the Ministry of Environment, Water and Agriculture for 30 Years

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Announcement Detail	Jazan Development and Investment Co. announces that it received on 01-07-2026 the final signed copies of the renewal agreements for the two lease contracts related to the lands on which the Company’s shrimp farms are established, located in Jazan Region, with a total area of 8,000 dunums (8 million square meters), with the Ministry of Environment, Water and Agriculture. This follows the completion of the signing procedures by the relevant parties. The renewal term is thirty years, at the same previous rental rate of SAR 1 per dunum annually. The renewal will commence from the expiry date of the previous two contracts, as the previous two contracts expired on 16-11-1438 H and 02-01-1447 H. This renewal contributes to stabilizing the project’s operating costs and ensuring the continuity of benefiting from the Company’s existing operational sites over the long term. It also supports the Company’s future expansion plans in the aquaculture sector, enhances its contribution to achieving food security, and supports the objectives of Saudi Vision 2030.

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Explanation

Announcement Detail

Jazan Development and Investment Co. announces that it received on 01-07-2026 the final signed copies of the renewal agreements for the two lease contracts related to the lands on which the Company’s shrimp farms are established, located in Jazan Region, with a total area of 8,000 dunums (8 million square meters), with the Ministry of Environment, Water and Agriculture. This follows the completion of the signing procedures by the relevant parties.

The renewal term is thirty years, at the same previous rental rate of SAR 1 per dunum annually. The renewal will commence from the expiry date of the previous two contracts, as the previous two contracts expired on 16-11-1438 H and 02-01-1447 H.

This renewal contributes to stabilizing the project’s operating costs and ensuring the continuity of benefiting from the Company’s existing operational sites over the long term. It also supports the Company’s future expansion plans in the aquaculture sector, enhances its contribution to achieving food security, and supports the objectives of Saudi Vision 2030.