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| Announcement Detail | 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. • Pioneering in fresh produce sector and leverage on the Company’s leading position in public goods markets. • Shift toward 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 |
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