Riyadh Development launches new 10-year strategy

Logo of Riyadh Development Co. (ARDCO)

Riyadh Development Co. (ARDCO) announced the launch of a new 10-year strategy aimed to boost the company’s position in the real estate development industry as well as the public interest service projects, according to a statement to Tadawul.

The new strategy also targets to align the company with the economic boom in the Kingdom and strengthen efforts to enhance performance and contribute to sustainable development in line with Vision 2030 and Riyadh ambitious strategy.

The key pillars of the new strategy are to achieve sustainable growth through diversifying investments and boosting the return on assets (RoA); to focus on real estate development as well as development management activities in real estate priority segments; to achieve efficiency in operating activities and property management; to assume a leading position in fresh products segment; to leverage on the company’s well-established position in public interest markets and to adopt a holding company model with mature business divisions.

The key objectives of the new strategy are to improve operating efficiency and bolster the company’s business infrastructure; maximize return on current assets; expand in real estate development management and property management activities; establish and develop new business sectors; double the company’s net income over the coming 10 years; to achieve sustainable growth through building quality partnerships; improve the company’s capital structure by diversifying source of funding and maximizing shareholders’ return as a strategy output through dividend and potential capital gain.

Further announcements to follow with any material update, the statement added.