Banan Real Estate Co. Announces no Financial Impact on the Company Due to the Implementation of the Updated White Land Fees System
| Element List | Explanation |
|---|---|
| Announcement Detail | With reference to the updated implementing regulations issued by the Ministry of Municipal and Housing Affairs on 22-08-2025 regarding the application of the White Land Fees System, and the determination of the geographical zones for the White Land Fees in Riyadh City issued on 27-08-2025,
Banan Real Estate Company announces that it does not own any lands subject to the updated White Land Fees System.
Accordingly, there is no financial impact on the company, and it will not incur any fees that may affect its financial position as a result of applying the updated White Land Fees System. The company clarified that its activities in the real estate development sector open new horizons for cooperation with landowners, by transforming white land fees into investment opportunities that support urban development plans, enhance real estate supply, and contribute to achieving national objectives. |
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