Riyadh – Mubasher: The Saudi Real Estate Company (Al Akaria) announced on Tuesday that authorities have lifted the suspension on a major land plot in North Riyadh with a book value of SAR 98.40 million.

The 30,000 square meter site is located in the Al Arid district, situated within the prime commercial strip between King Fahd Road and Olaya Road, according to a bourse filing.

Al Akaria confirmed it received a property registration certificate from the Real Estate Registry formalizing the move.

The land was previously identified in an external auditor's report for the interim condensed consolidated financial statements for the period ending 31 March 2026. At that time, the plot was among several company assets classified as unavailable for use or development due to regional conditions or ongoing reviews by specialized committees.

Al Akaria is currently evaluating the optimal development options for the site to align with its corporate strategy and maximize shareholder value.

While the lifting of the suspension does not result in an immediate direct financial impact, the company stated it will disclose any material developments in accordance with local regulations.

On 29 June, the company’s shareholders approved its financial statements, board of directors' reports, and the discharge of board members from liability for 2025.