Al Hammadi says expropriated land spans 9,669 sqm
Al Hammadi Holding Co.said it received compensation notification from Royal Commission for Riyadh City (RCRC) for SAR 79.76 million pertaining to the company’s expropriated land in Al Munsiyah district, Riyadh. 
The compensation, approved under the Law of Expropriation of Real Estate for Public Benefit, related to a portion of Al Hammadi’s land taken for the Riyadh Ring Roads and Main Roads Development Project.
In a statement to Tadawul, Al Hammadi said the expropriated area totaled 9,669 square meters.
The book value of the portion stood at SAR 72.76 million, and would result in a one-off gain of SAR 6.99 million following the compensation.
The financial impact will be recognized in Al Hammadi’s statements, it added.
Al Hammadi will review the engineering and planning studies required in light of the changes resulting from the expropriation.
The company will announce any material developments or impact on the project’s timeline in due course.
It also said the carrying value of the entire land in its books stands at SAR 184.25 million after capitalizing brokerage costs and the real estate transaction tax.
According to data available with Argaam, Al Hammadi said it purchased a land plot in Riyadh in November 2024 for SAR 171.37 million, excluding brokerage fees and the real estate transaction tax.
Al Hammadi says expropriated land spans 9,669 sqm
Al Hammadi Holding Co.said it received compensation notification from Royal Commission for Riyadh City (RCRC) for SAR 79.76 million pertaining to the company’s expropriated land in Al Munsiyah district, Riyadh.
The compensation, approved under the Law of Expropriation of Real Estate for Public Benefit, related to a portion of Al Hammadi’s land taken for the Riyadh Ring Roads and Main Roads Development Project.
In a statement to Tadawul, Al Hammadi said the expropriated area totaled 9,669 square meters.
The book value of the portion stood at SAR 72.76 million, and would result in a one-off gain of SAR 6.99 million following the compensation.
The financial impact will be recognized in Al Hammadi’s statements, it added.
Al Hammadi will review the engineering and planning studies required in light of the changes resulting from the expropriation.
The company will announce any material developments or impact on the project’s timeline in due course.
It also said the carrying value of the entire land in its books stands at SAR 184.25 million after capitalizing brokerage costs and the real estate transaction tax.
According to data available with Argaam, Al Hammadi said it purchased a land plot in Riyadh in November 2024 for SAR 171.37 million, excluding brokerage fees and the real estate transaction tax.
