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Al-Hammadi awarded 9.8 mln riyals for land expropriation
Al Hamadi Holding Company announced that it received compensation of 79.76 million Riyals from the Royal Commission for Riyadh City due to the expropriation of part of its land in Al-Mansiyah neighborhood, covering an area of approximately 9,669 square meters, as part of the road corridor development project in the city. Accordingly, the company recorded a non-recurring profit of 6.99 million Riyals resulting from the difference between the compensation amount and the book value of the land. The company continues to review studies related to the adjustments resulting from the land expropriation.
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