Al-Hammadi gets 9.8M riyals for land expropriation

Al Hamadi Holding Company announced that it received a financial compensation of 79.76 million SAR from the Royal Commission for Riyadh City, as a result of expropriating part of its land in Al Munsiyah neighborhood, covering an area of 9,669 square meters, as part of the city's road development projects. The expropriation process is part of efforts to improve infrastructure, and Hamadi Company achieved non-recurring profits of 6.99 million SAR from this compensation. Additionally, the company previously purchased land covering 24,480 square meters for 171.37 million SAR to build a hospital, and plans for the project are currently under review, including the various modifications resulting from the land expropriation.

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