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Element List	Explanation
Introduction	Asas Makeen Real Estate Development and Investment Company announces the signing of an agreement for the development and execution of superstructure works with Tawafuq Al Rimal Real Estate Fund, for the development of an integrated residential project (compound) in Al Rimal District, Riyadh, with a total area of 30,000 square meters. The signing of this agreement comes in line with the Company’s strategy to expand in real estate projects in Riyadh and to strengthen its third-party real estate development services through partnerships with landowners and investors.
Date of Announcement of the Award	2026-04-07 Corresponding to 1447-10-19
Contract Subject Matter	Agreement for the development and execution of superstructure works for a real estate project in Al Rimal District, Riyadh.
The Entity with Which the Contract was Signed	Tawafuq Al Rimal Real Estate Fund
Date of Signing the Contract	2026-04-07 Corresponding to 1447-10-19
Contract Value	The total value of the agreement amounts to SAR 268,116,905, inclusive of Value Added Tax (VAT).
Contract Details	The agreement appoints Asas Makeen as the real estate developer for the project, responsible for managing and executing the superstructure development works, including oversight of design, planning, and implementation. The project is located on a total land area of 30,000 square meters in Al Rimal District, Riyadh, for the benefit of Tawafuq Al Rimal Real Estate Fund, as part of an integrated residential development (compound) comprising approximately 503 residential units.
Contract Duration	18 months
Financial Impact and the Relevant Period	The financial impact of this agreement is expected to be reflected positively on the Company’s results starting from the second quarter of the fiscal year 2026, subject to the progress of the project.
Related Parties	None
Additional Information	It is worth noting that Board Member and CEO, Mr. Abdulrahman bin Ibrahim Al-Hadlaq, serves on the Board of Directors of Tawafuq Al Rimal Real Estate Fund, representing the Company. This constitutes an indirect interest in accordance with the relevant regulations.

Announcement by Asas Makeen Real Estate Development and Investment Company on Signing an Agreement for the Development and Execution of Superstructure Works with Tawafuq Al Rimal Real Estate Fund