Arriyadh Devlopment Company. (ARDCO) Announcement Regarding Lands Subject to the Idle Land program fees
| Element List | Explanation |
|---|---|
| Announcement Detail | With reference to the updated executive regulations issued by the Ministry of Municipal and Housing in 22-08-2025G corresponding to 28-02-1447H concerning the implementation of the Idle Land Program fees, Arriyadh Development Company wishes to inform its shareholders and investors of the company-owned lands that fall under this program. This disclosure reflects the company’s commitment to transparency and strict compliance with all applicable laws and regulations.
Lands Subject to the Idle land Fees:
1-Lands located in Al Rimal District with a total area of approximately 828,577 sqm, subject to the fourth tier with a fee rate of 2.5%.
2-Lands located in Al Dirah District with a total area of approximately 18,504 sqm, subject to the first tier with a fee rate of 10%.
3-Lands located in Al Malqa District with a total area of approximately 4,860 sqm, subject to the first tier with a fee rate of 10%.
Assets owned through real estate funds licensed by the Capital Market Authority are excluded, as the fund manager is the responsible party for addressing the financial impact related to those assets.
The financial impact will be announced in due course. |
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