Alandalus Property Co. announces the latest developments regarding its joint project with Masat Real Estate Company, which the company owns a 25% stake.

Element List	Explanation
Previous Announcement	Alandalus Property Co. announces the latest developments regarding its joint project with Masat Real Estate Company, which the company owns a 25% stake.
Date of Previous Announcement on Saudi Exchange’s Website	2025-08-27 Corresponding to 1447-03-04
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	With reference to Alandalus Property Co. announcement published on the Tadawul website on 04/03/1447H 2025/08/27G regarding the latest developments related to the Company’s joint venture, Masat Real Estate Company, in which the Company owns a 25% stake (Al Huda Park project). Based on the latest report received from the developer (Hamat Holding Company), Alandalus Property Co. would like to announce the latest developments regarding its project located in Makkah Mukarramah . The overall completion rate of the project has reached 68% as of the end of April 2026, with work continuing in accordance with the approved execution plan and schedule. The Company affirms its commitment to continuing the project implementation in line with the highest standards of quality and safety, ensuring timely completion. The project is expected—God willing—to be inaugurated as planned in the first quarter of 2027. 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