Al Akaria says restrictions lifted on northern Riyadh land plot

Al Akaria expects no immediate financial impact from lifting the restrictions

Saudi Real Estate Co. (Al Akaria) said restrictions have been lifted on a 30,000-square-meter (sqm) land plot it owns in northern Riyadh after the Real Estate Registry issued a title registration deed.

The plot, located in the Al Arid district within the commercial corridor between King Fahd Road and Olaya Road, has a book value of SAR 98.4 million, the company said in a filing to Tadawul.

The land was among the parcels highlighted in the emphasis of matter (EoM) paragraph No. 5(a) of the external auditor's report on Al Akaria's interim condensed consolidated financial statements for Q1 2026. The report said some company-owned land parcels were unavailable for use or development at the time due to factors related to the areas in which they are located, while other matters remained under review by the relevant committees.

Al Akaria said it is evaluating the optimal use of the land in line with its strategy to enhance value for shareholders.

The company said lifting the restrictions will have no immediate financial impact and that it will disclose any material developments in accordance with applicable laws and regulations.

According to Argaam data, the external auditor's report on Al Akaria's financial results for Q1 2026 included an EoM stating that certain land plots owned by the company were currently unavailable for disposal, use, or development.

The book value of those land plots stood at SAR 438 million as of March 31, 2026, unchanged from Dec. 31, 2025.