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الاقتصادية
Al-Hamadi secures 80M riyals for Riyadh roads
Al Hamadi Holding Company received a notice from the Royal Commission for Riyadh City regarding compensation of approximately 80 million riyals, due to a portion of its property being affected by the Riyadh Road Development Project. The property, which the company purchased in November 2024 for 171.3 million riyals with the intent to establish a hospital, covers an area of 24,500 square meters. It is expected to record an extraordinary profit of 7 million riyals after compensation. The company will recognize the financial impact in accordance with international standards and study the implications of part of the land being affected on its project.
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