On August 9, 2026, Saudi Real Estate Company ("Al-Akaria") announced that on August 6, 2026, both Al-Akaria and Al-Tahaluf Real Estate Company mutually agreed to terminate their partnership agreement — originally signed on May 24, 2023 — which had been established to develop a residential villas project within Al-Akaria Park master plan. The termination was made pursuant to sub-paragraph (a) of paragraph (1) of clause (15.2) of the agreement, due to the non-fulfillment of the conditions precedent within the specified period. As a result of the termination, Al-Akaria will bear pre-incorporation expenses of SAR 1,120,945, with Al-Tahaluf Real Estate Company bearing an equal amount, as the costs were shared equally between the two parties at 50% each.

Original announcement:

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.