|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. |
• 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.
• 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.
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.