Ash-Sharqiyah Development Company said it received the cadastral survey for its 101.25m sq m reclaimed land from the cadastral department at the Ministry of Agriculture.
The land was recorded as a governmental grant with an area of 65.2m sq m and was valued at SAR 4.6m at 7 Halalas/sq m as per 1408AH assessment; the company said in its filing to Tadawul today.
Ash-Sharqiyah added that the positive effect of the reassessment is to be reflected on the shareholders’ equity after receiving the title deed of the land.
The company has submitted an ownership request for the land, which is 17km away from Al-Fadly triangle (Abu Hadreiya), to the Ministry of Agriculture which asked for a cadastral survey for the completion of the procedures.
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