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Mohammed Hasan AlNaqool Sons Co. Announces an update on Mohammad Hassan Al-Naqool Sons Company announces the latest developments regarding the Deer Villa project
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ALNAQOOL
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1445/12/21 27/06/2024 08:04:52
| Element List | Explanation |
|---|---|
| Introduction | Mohammad Hassan Al-Naqool Sons Company announces the completion of the sale of approximately 30% so far of the (Deer Villa) project to its subsidiary Deer Real Estate Company. |
| Previous Announcement | Mohammad Hassan Al-Naqool Sons Company announces the latest developments regarding the Deer Villa project |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-08-23 Corresponding to 1445-02-07 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | 85% of the project has been completed and approximately 30% of the project has been sold. It is expected that the entire project will be sold during the current year, God willing. |
| Reasons For The Delay on The Date of The Event Previously Announced | Recession in the real estate market during the second half of 2023 |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There is no increase in the project cost |
| Delay consequences on the Company’s financial results | It is expected that the impact will be reflected positively on the semi-annual and annual financial statements for the year 2024. |
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.
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