Riyadh Development Submits Capital Increase Request to Capital Market Authority

Riyadh Development Co. announced on Wednesday the submission of a capital increase request file to the Capital Market Authority.

This comes in reference to the Company’s announcement on (Tadawul) on Sep. 1, 2024, that it had concluded an agreement to acquire two real estate assets with Remat Al-Riyadh Development Co. by increasing the Company’s capital by issuing new shares to Remat Al-Riyadh Development in exchange for its in-kind contribution of such assets in the Company.