| Element List | Explanation |
|---|---|
| Previous Announcement | Alandalus Property Co. Announces establish a unique commercial center project in the Makkah Al-Mukarramah region through the Joint Venture company Masat Property Co. which the company’s owns 25% |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-07-21 Corresponding to 1446-01-15 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | With reference to the Alandalus Property Co. announcement published on Tadawul’s website on 15/01/1446H corresponding to 21/07/2024, regarding the latest developments related to the joint venture project with Masat Real Estate Company, which the company’s owns a 25% stake. (Al Huda Park.) According to the latest report received from the developer company (Hamat Holding Company), Alandalus Property Co. would like to announce the latest development related to its project located in the Makkah Al-Mukarramah region, The Board of Directors of Masat Real Estate Company has approved name the project (Al Huda Park). The construction and structural works are progressing according to the project’s timeline, with a completion rate of (36%) of the total works, including the completion of excavation and concrete works. All works are proceeding in line with the approved execution plan, and -God willing-, the project is expected to be open in the first quarter of 2027, as scheduled. And there have been no notifications received to date regarding any material changes in the project’s costs. Any significant updates will be announced in a timely manner. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not Exist |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There are no additional costs related with the announced development |
| Delay consequences on the Company’s financial results | Not Exist |
| Additional Information | Not Exist |
