Riyadh - Mubasher: Riyadh Development Company has signed an agreement to sell all its units in the Al Arabi Riyadh Development Real Estate Fund to Sumou Holding Company for a total value of SAR 184.47 million.
The transaction will be paid over three installments within a period not exceeding 18 months from the signing date 22 April 2026, according to a bourse filing.
Sumou Holding will also issue a promissory note covering the full amount payable.
Meanwhile, the deal contains no preferential terms and remains subject to approval by the general assembly of Riyadh Development.
The Tadawul-listed company noted that the financial impact of the transaction will not be reflected in the 2026 income statement, as the full profit was already recognized in 2025.
The initial investment stood at SAR 182.48 million as of 9 January 2025, while the latest valuation and final sale value were both recorded at SAR 184.47 million as of 31 December 2025.
During 2025, the company’s net profits went down by 0.03% to SAR 296.10 million from SAR 296.20 million in the previous year.
