SMO Real Estate concluded a real estate deal with Saudi Al Shabab Club on April 12, 2022, under which a lease contract was signed to lease and invest the club's land located on King Fahd Road and Olaya Road (commercial strip) in Riyadh for commercial, residential, entertainment, hotel and other projects.

The company explained in a statement on “Saudi Tadawul” that the land area is 42.97 thousand square meters, while the duration of the contract is 25 years, with an annual rental value of 19.3 million riyals, and the company expected that the financial impact of the contract will appear on the financial statements and the statement of financial position starting from the receipt of the site, noting that there are no related parties in the contract.

Noting that there are no related parties in the contract.