“Dar Al Arkan” receives 3 invoices for white land fees amounting to 201 million riyals
Dar Al Arkan Real Estate Development Company announced its receipt of 3 invoices related to land fees subject to white land fees, in 3 areas within the Shams Al Riyadh project and licensed under the Wafi program.
The company explained in a statement on: "Saudi Arabia trading"Today, Thursday, the first invoice amounted to 48.31 million riyals, the second amounted to 108.10 million riyals, and the third amounted to 44.72 million riyals.
The total of the three invoices amounts to 201.13 million riyals.
The company said that given the fact that the project is under development and licensed by the Wafi program within the framework of the off-plan sales committee, and the project’s units are sold to customers according to contracts documented by the Wafi program of the General Real Estate Authority, All of these lands are not owned by the company, as the entire project was sold, and the company clarified this to the competent authorities.
She added that according to the nature of the situation and the level of progress in developing the project, there is no material financial impact on the financial statements.
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