Alramz Real Estate Co. Announces Agreement Signing with AlAhli Capital Company (SNBC) "Fund Manager" and Assayel Arabia Real Estate Company "Fund Partner"

Element List	Explanation
Introduction	Alramz Real Estate Company (Alramz) announces the signing of an agreement to establish a Shariah-compliant real estate investment fund named "Alahli Alramz Assayel Residential Fund", equally owned between Alramz Real Estate Company and Assayel Arabia Real Estate Company (a subsidiary of Ali bin Zaid Al-Qarishi & Brothers Company), managed by the Fund Manager SNB Capital, for the development of the "Ramz Al-Raed 2" residential project located in Al Raed district in Riyadh. The fund size target is SAR 370 million. Under the agreement, the Company will act as the developer and exclusive marketer of the project. The project aims to develop an integrated residential community comprising approximately 290 residential units (apartments), which will subsequently be sold to end beneficiaries..
Date of Announcement of the Award	2026-06-08 Corresponding to 1447-12-22
Contract Subject Matter	Signing of an agreement to establish a Shariah-compliant real estate investment fund, in which each party will own 50% of the fund managed by SNB Capital, for the development of a residential project located in Al Jawhara plan, Al Raed District in Riyadh.
The Entity with Which the Contract was Signed	- Assayel Arabia Real Estate Company. - SNB Capital ("the Fund Manager").
Date of Signing the Contract	2026-06-08 Corresponding to 1447-12-22
Contract Value	Target fund size: SAR 370 million. Development contract value: To be determined upon completion of the designs and obtaining the required approvals and licenses, The development fee has been set at 10% of the total development contract value. Al Ramz will also receive a marketing and sales commission of 2.5% of the fund’s total sales value.
Contract Details	"Establishment of a Shariah-compliant real estate investment fund, managed by SNB Capital, for the development of a residential project within Al Jawhara plan in Al-Raed district, Riyadh, on a plot of land measuring 15,131 square meters. The project works include, in particular: design, development, execution, marketing, sales-operations management and facilities and property management. The project aims to develop an integrated residential community comprising approximately 290 residential units (apartments), reflecting the Company's vision to deliver high-quality residential products that meet the needs of the real estate market in Riyadh, in strategic locations with high demand and limited supply. The project is expected to contribute to strengthening Alramz investment portfolio and support its sustainable growth."
Contract Duration	Not applicable
Financial Impact and the Relevant Period	The transaction is expected to positively contribute to the Company’s financial performance during the years 2026, 2027, 2028, and 2029.
Related Parties	None
Additional Information	Any material developments will be disclosed in due course.