Asas Makeen Real Estate Development and Investment Co. announces its Board’s resolution initiating the use of the Fair Value model to measure properties and investment properties
Asas Makeen Real Estate Development and Investment Company (“the Company”) announces that its Board of Directors has resolved to adopt the fair value for measuring investment properties, based on the recommendation of the Audit Committee and in accordance with the International Accounting Standards applicable in the Kingdom of Saudi Arabia.
Date of issuance of the company’s board resolution
2025-09-25 Corresponding to 1447-04-03
Expected financial impact on the net assets
The Company expects that the application of the fair value policy will result in a positive increase in net assets estimated at approximately SAR 50 million. The actual financial impact will be determined through the valuation of investment properties in the financial statements for the fiscal year ending on 31 December 2025.
Start date of the expected financial impact
Effective from the financial statements for the year ending on 31 December 2025.
Additional Information
The application of this new accounting policy will not generate any cash inflows to the Company.
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