Saudi Real Estate Co. (“Al-Akaria”) Announces the Latest Developments Regarding Its Previous Announcement on Lands Subject to the White Land Tax

First Tranche (10%): Total value of the issued invoices amounts to SAR (56,806,511.81).

The Company clarifies that the invoices issued under the first tranche include land plots that are currently under construction, as well as land plots at the final stage of appointing a contractor for construction purposes. The value of the invoices issued on these lands amounts to SAR (32,678,905.2). The Company will complete the necessary regulatory procedures to address this matter in accordance with the relevant laws and regulations.

Fourth Tranche (2.5%): Total value of the issued invoices amounts to SAR (4,837,960.90)

They relate to land plots within the Company’s (Al Akaria Park) project, which are intended for divestment.

At this time, the Company does not expect this to result in any material impact beyond what has been disclosed, based on the information available as of this date.

The Company confirms that it will disclose any material developments in due course in accordance with the relevant laws and regulations