Riyadh Development Company announces the launch of its Strategy.
Feb 14, 2023
Riyadh Development Company announces the launch of its Strategy.
Feb 14, 2023
Riyadh Development Company announces the launch of its Strategy.
Riyadh Development Company is pleased to announce the launch of the Company’s new Strategy for the coming 10 years. The Strategy targets to anchor the Company’s position in real estate development and public goods services to keep pace with the economic renaissance in the Kingdom, and to enhance its efforts in improving performance that contributes to sustainable growth in line with Saudi Vision 2030 and Riyadh Strategy ambition.
Highlights:
Achieve sustainable growth through investment diversification and improve return on assets
Focus on real estate development and development management activities in real estate priority segments
Achieve targeted efficiency in operational activities and property management
Innovate and pioneer in fresh produce sector and leverage on the company’s leading position in public goods market
Shift towards a holding structure in line with achieving business maturity in the company’s different sectors.
Key Objectives:
Improve operational efficiency and upgrade the Company’s business infrastructure.
Maximize return on current assets value.
Expand in real estate development management and property management activities.
Establish and develop new business sectors.
Double the Company’s net income within the coming 10 years.
Sustainable growth through building quality partnerships.
Improve the Company’s capital structure by diversifying source of funding.
Maximize shareholders total return as an outcome of the Strategy through dividend and potential capital gain.
Further announcements to follow with any material update.
God bless..
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate
CEO and Managing Director at Baysan Real Estate Company
He holds a Bachelor's degree in Financial Management from Prince Mohammad bin Fahd University, obtained in 2018, in addition to completing several courses and workshops that enhanced his skills and specialization in the field.
Mr. Abdulrahman bin Ayedh Al-Qahtani's membership began on 24-12-2022
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Mr. Fahad Abdullah AlKassim
Board Member
Fahad Abdullah Abdulaziz Al Kassim’s distinguished career spans more than three decades, during which he has excelled in a series of senior roles encompassing financial, administrative, and auditing consultancy in the healthcare, retail, and real estate sectors. Mr. Al Kassim holds a Bachelor of Science Degree in Management from King Saud University, and has completed the prestigious Advanced Management and Leadership Program at Oxford University.
He currently serves on the board of directors of Savola Group,
Jarir Marketing Company: Member of the Board’s Audit, Nominations and Remunerations, and Governance Committees.
Board of Directors of Dr. Mohammed Rashid Al-Faqih & Partners Company: Member of the Board’s Executive Committee.
Board memberships in each of the following: Fincorp Financial Consulting Company, Al Rajhi United Holding Company, Mohamed Abdulaziz AlHabib & Sons Holding Company, Areez Investment Limited, Baseqat Alkhaleej Company, and Jarir Investments Company.
Board memberships in each of the following: Fincorp Financial Consulting Company, Al Rajhi United Holding Company, Mohamed Abdulaziz AlHabib & Sons Holding Company, Areez Investment Limited, Baseqat Alkhaleej Company, and Jarir Investments Company.
Al Argan Company: Member of the Board’s Nominations and Remunerations Committee.
Abdullah Ibrahim Mohammed Al-Subeaeie Holding Company (AIMS): Member of the Board’s Investment Committee.
Dur Hospitality Company: Member of the Board’s Investment Committee.
The Savola Group: Chairman of the Board’s Audit, Investment, and Corporate Social Responsibility Committees.
Dallah Health Services Company: Member of the Board’s Audit Committee.