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Riyadh, Saudi Arabia
Al Ramz Real Estate, listed in the Saudi market, has announced the cancellation of 6 out of 94 white land fees bills it has already received for land owned by it in Riyadh, linked to projects under development, with a total value of SAR 33.95 million, representing about 96% of the total value of bills amounting to SAR 35.33 million.
The company confirmed that the cancellation of the invoices was based on the objection submitted to the competent authority, pointing out that the canceled invoices relate to land located within the geographical ranges subject to white land fees by 10%, and linked to projects under development that the company is working to develop according to its development plans, according to a statement of the company on "Tadawul" today.
In February 2026, the company announced that it had received 94 bills for white land fees with a value of 35.33 million riyals
She explained that the total amount of the remaining invoices decreased from 35.33 million riyals to 1.37 million riyals, indicating that it did not form any allocation against the invoices referred to, according to Clarification No. (20-2) of its financial statements, and therefore the cancellation of the invoices does not have any impact on the company’s financial results, and the remaining invoices currently do not have any material impact on its operational activities or financial position.
It is noteworthy that the company had announced in February 2026 that it had received 94 invoices for white land fees with a total value of 35.33 million riyals, for land owned by it in the city of Riyadh, and linked to projects under development, confirming that it will apply for the relevant regulatory deadlines with the competent authority until the completion of the development of those lands.
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