Element List Explanation
Previous Announcement Announcement of First Avenue for Real Estate Development Company of signing a contract with Asas Makeen Real Estate Development and Investment Company for the execution of a residential project in Al Hada District, Riyadh.
Date of Previous Announcement on Saudi Exchange’s Website 2025-07-16 Corresponding to 1447-01-21
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event Further to the announcement by First Avenue Real Estate Development Company published on 16-07-2025 on the Saudi Tadawul website regarding the signing of a contract for the execution of a residential project, and following the completion of approving the detailed designs, as well as defining the technical specifications and quality standards, the procedures for signing an addendum to the contract have been completed. The addendum sets the total project execution cost at approximately SAR 85,875,000, excluding Value Added Tax (VAT).
Reasons For The Delay on The Date of The Event Previously Announced Not applicable, as the Contract Annex was signed on 26/04/2026
The costs associated with the event, and if they have changed or not with indication of the reasons. The project cost has been set at SAR 85,875,000, inclusive of the fees of Asas Makeen Company at a rate of 14.5%, which were previously announced, and excluding value-added tax.
Delay consequences on the Company’s financial results Not applicable

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