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Element List	Explanation
Date of Announcement of the Award	2026-03-15 Corresponding to 1447-09-26
Contract Subject Matter	Asas Makeen for Real Estate Development and Investment Company announces the signing of a real estate development contract with Awa'id Al-Hada Company for the development of a residential project in Al-Hada district, Riyadh, comprising the construction of a number of residential units (villas) on several land plots owned by the counterparty. This project comes as part of the Company's strategy to expand its third-party real estate development services and strengthen its partnerships with landowners and investors, contributing to the delivery of quality residential projects that meet the needs of the real estate market in Riyadh.
The Entity with Which the Contract was Signed	Awa'id Al-Hada Company
Date of Signing the Contract	2026-03-15 Corresponding to 1447-09-26
Contract Value	SAR 63,083,250 (inclusive of VAT)
Contract Details	The contract entails the appointment of Asas Makeen for Real Estate Development and Investment Company as the project's real estate developer, responsible for managing and executing the project's development works, including the construction of residential units (villas) in Al-Hada district, Riyadh, on land with a total area of approximately 10,468 m². The project aims to develop these residential units and offer them for sale upon completion of development works. Asas Makeen for Real Estate Development and Investment Company's development fees amount to 15% of the total project costs.
Contract Duration	18 months
Financial Impact and the Relevant Period	The contract is expected to have a positive financial impact on the Company's results, commencing from the fiscal year 2026, following the actual commencement of development works and in accordance with the progress of the project throughout the contract period.
Related Parties	None

Asas Makeen for Real Estate Development and Investment Company Announces the Signing of a Real Estate Development Agreement for a Residential Villas Project in Al-Hada District, Riyadh