Al Akaria receives SAR 61.6M white land tax invoices

Al Akaria does not expect any material impact other than what has been disclosed

Saudi Real Estate Co. (Al Akaria) said the total value of the white land tax invoices issued to-date to the company amounts to SAR 61.6 million.

In a statement to Tadawul, the company said that these invoices cover two tranches. The first tranche (10%) includes a total issued invoices of SAR 56.8 million.

The invoices issued under the first tranche include land plots that are currently under construction, as well as land plots at the final stage of appointing a contractor for construction purposes. The value of the invoices issued on these lands amounts to SAR 32.7 million. The company will complete the necessary regulatory procedures to address this matter in accordance with the relevant laws and regulations.

Meanwhile, Al Akaria received invoices under the fourth tranche (2.5%) with a total value of SAR 4.8 million, related to land plots within the company’s Al Akaria Park project, which are intended for divestment.

The company also indicated that it does not expect this to result in any material impact beyond what has been disclosed, based on the information available as of this date.

Al Akaria will disclose any material developments in due course in accordance with the relevant laws and regulations, the statement added.

According to data available on Argaam, the company disclosed, mid-September 2025, that 487,840 square meters (sqm), or 4.65%, of its Riyadh land bank falls under the scope of the White Land Tax Law.