Logo of Aldyar Alarabiya Real Estate Development Co.
The Capital Market Authority (CMA) approved today, Dec. 31, the application of Aldyar Alarabiya Real Estate Development Co. to register and offer 97.5 million shares on the Main Market (TASI).
The shares to be offered represent 30% of the company’s capital reaching 325 million shares.
The prospectus will be published within sufficient time prior to the start of the subscription period.
The approval is valid for six months from the CMA resolution date. It shall be deemed cancelled if the offering and listing of the company’s shares are not completed within this period.
The company obtained the CMA’s approval in June 2023 to offer 2.25 million shares on the Nomu-Parallel Market, but it did not proceed with the offering at that time.
Aldyar Alarabiya’s current investment portfolio stands at approximately SAR 15 billion, CEO Naif Alatawi told Argaam last November.
The company is developing the Dyar Al-Haram project in Makkah through multiple phases, with investments of around SAR 10 billion.
In November, the company signed an agreement with Umm Al-Qura for Development and Construction to reserve a land plot in the Masar destination for the development of a residential tower, with investments reaching SAR 700 million. The project will provide more than 300 residential units.
