Saudi Real Estate Company (“Al-Akaria”) Announces the Lifting of the Restriction on One of Its Land Plots Located in North Riyadh

Element List	Explanation
Announcement Detail	Saudi Real Estate Company (“Al Akaria” or the “Company”) announces the lifting of the restriction on the land plot owned by the Company and located in Al Aarid District, north of Riyadh, based on the Title Registration Deed issued by the Real Estate Registry. The land has a total area of 30,000 square metres and is situated within the commercial corridor between King Fahd Road and Olaya Road. The land was among the land parcels referred to in Emphasis of Matter paragraph No. (5-a) included in the external auditor’s report on the Company’s interim condensed consolidated financial statements for the period ended 31 March 2026. The paragraph stated that certain land parcels owned by the Company were not available for use or development at that time due to various reasons, including reasons relating to the areas in which such lands are located, while other matters were under study by specialised committees. The book value of the land amounts to SAR 98,400,000. The Company is currently assessing the optimal potential uses of the land in line with its strategy and in a manner that contributes to creating added value for the Company and its shareholders. The lifting of the restriction does not result in any immediate financial impact at this time. The Company will disclose any material developments in due course in accordance with the applicable laws and regulations.

Element List

Explanation

Announcement Detail

Saudi Real Estate Company (“Al Akaria” or the “Company”) announces the lifting of the restriction on the land plot owned by the Company and located in Al Aarid District, north of Riyadh, based on the Title Registration Deed issued by the Real Estate Registry. The land has a total area of 30,000 square metres and is situated within the commercial corridor between King Fahd Road and Olaya Road.

The land was among the land parcels referred to in Emphasis of Matter paragraph No. (5-a) included in the external auditor’s report on the Company’s interim condensed consolidated financial statements for the period ended 31 March 2026. The paragraph stated that certain land parcels owned by the Company were not available for use or development at that time due to various reasons, including reasons relating to the areas in which such lands are located, while other matters were under study by specialised committees.

The book value of the land amounts to SAR 98,400,000.

The Company is currently assessing the optimal potential uses of the land in line with its strategy and in a manner that contributes to creating added value for the Company and its shareholders. The lifting of the restriction does not result in any immediate financial impact at this time. The Company will disclose any material developments in due course in accordance with the applicable laws and regulations.