Banan Real Estate finalizes 'Emaar Al-Wasail' setup
Banan Real Estate Company announced the completion of the procedures for establishing a new subsidiary named "Emaar Al Wasil Al Momayaz" with a capital of 44.07 million Saudi Riyals. The aim is to enhance the investment portfolio and expand the group's real estate operations. The company was established as a simplified joint-stock company, providing administrative and organizational flexibility. It has been issued the necessary legal registrations to commence its activities in Saudi Arabia. This step comes after the approval of Banan Real Estate's Board of Directors in July 2026 and is in line with the planned schedule, without any additional costs or financial delays. This reflects the company's strategy to diversify its investment tools and improve the effective management of real estate projects.
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