ARDCO ends real estate fund deal with ANB Capital

ARDCO said termination of the agreement will have no financial impact, obligations, or effect on itsfinancial position or operational plans.

Riyadh Development Co. (ARDCO) terminated today, Feb. 9, its development management agreement for a real estate investment fund managed by ANB Capital by mutual consent.

The move follows a review of the company’s strategic priorities, according to a Tadawul statement.

The termination will have no financial impact, obligations, or effect on ARDCO’s financial position or operational plans.

According to Argaam, the company was appointed in October 2024 as developer of a real estate investment fund exceeding SAR 2.1 billion, managed by ANB Capital, to develop a 1.8 million square meter (sqm) infrastructure project in east Riyadh.