Hamad Bin Saedan issues supplementary prospectus

Hamad Bin Saedan plans to float 4.23 million shares on Nomu at SAR 13.5 each

Hamad Mohammed Bin Saedan Real Estate Co. released today, Aug. 21, a supplementary prospectus for its initial public offering (IPO) on the Nomu-parallel Market.

The company issued the supplementary prospectus after signing a SAR 59 million ($15.7 million) deal to sell its fully owned Al Yamamah Hotel Tower in Riyadh’s Al Sahafah district, saying the update was required as the transaction is material. The 1,680-square-meter property was sold on Aug. 17, 2025, to an individual buyer with no related-party ties.

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The buyer will pay SAR 10 million upfront and the remaining SAR 49 million within 30 business days, while the property, mortgaged to Amlak International Finance Co., will have its lien cleared by Hamad Bin Saedan, which pledged to transfer ownership within 10 business days of final payment.

The tower is leased to Marhab Residential Units under a six-year contract signed in March 2022 while lease rights will be transferred to the buyer, who will collect the next rent due May 25, 2025.

The company said the sale value represents 22.6% of net assets as of June 30, 2025, while the property’s book value of SAR 41.15 million accounts for 15.8%, adding that the asset generated SAR 3.2 million in 2024, equal to 1.7% of revenue.

Under Saudi securities rules, issuers must publish a supplementary prospectus if material changes occur after filing and before completion of the offering.

Hamad Bin Saedan plans to float 4.23 million shares on Nomu at SAR 13.5 each, representing 15% of post-IPO capital of SAR 282.35 million, divided into 28.23 million shares with a par value of SAR 10.