On July 30, 2026, Banan Real Estate Company announced an update to its previously disclosed Board of Directors' approval to establish a subsidiary, originally announced on July 19, 2026. The subsidiary has been formally established under the name Emaar Al Waseel Al Mutamayza Company (a simplified joint-stock company), with a unified national number of 7054897553 and an issued share capital of 44,075,000 Saudi Riyals. The commercial registration has been completed, marking the full execution of the Board's earlier resolution.

Original announcement:

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