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Element List	Explanation
Transaction Details	First Avenue for Real Estate Development Company announces its acquisition of the “Capital Avenue – Al Qirawan” Tower project, located on King Salman Road in Al Qirawan District, north of Riyadh, through the purchase of the partners’ stakes in the project fund “Jadwa Capital Avenue Real Estate Fund,” managed by Jadwa Investment resulting in full (100%) ownership of the project by the Company. This acquisition comes as part of the Company’s strategy to maximize asset value and efficiently manage its investment portfolio, contributing to the enhancement of both operational and capital returns, and capitalizing on available investment opportunities in line with and in the best interest of shareholders. The acquisition cost amounted to approximately SAR 310 million. The project is developed on a land area of 7,728 square meters, with a total gross built-up area of approximately 35,691 square meters, and leasable areas of around 15,000 square meters. It is also worth noting that construction works are nearing completion, with the project’s completion rate reaching approximately 90%, and all remaining works are expected to be finalized during the first quarter of 2026.
Transaction Amount	310 million Saudi Riyals
Transaction Conditions	N\A
Parties of the Transaction	Jadwa Capital Avenue Real Estate Fund
Transaction Financing Method	Through the Company’s internal resources in addition to bank financing
Date of Entering Into The Transaction	2025-12-21 Corresponding to 1447-07-01
Description of Activity of The Asset Subject of The Transaction	N\A
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction	No
Transaction reasons	This acquisition comes as part of the Company’s investment strategy aimed at strengthening its asset portfolio and achieving optimal returns through the effective management of investments, in line with prevailing market conditions.
Expected Impact of the Transaction on the Company and Its Operations	The transaction is expected to have a positive impact on the Company’s financial results starting from the first half of 2027.
Related Parties	Mr. Khaled Al-Qahtani, a member of the board of directors, due to his ownership of investment units in Jadwa Capital Avenue Real Estate Fund.
Attached Documents	Attached Documents

First Avenue for Real Estate Development Company announces its acquisition of the “Capital Avenue – Al Qirawan” Tower in Riyadh.