The Capital Market Authority has approved Al-Andalus Real Estate Company to offer 21 million shares, representing 30% of Al-Andalus Real Estate Company, which has a capital of 700 million Saudi riyals. The subscription period will last for seven days, from 6/03/1437 AH to 12/03/1437 AH.

In accordance with the decision of the Capital Market Authority, a portion of the offered shares will be allocated to licensed financial institutions following the completion of the book-building process, which will determine the share price for the public offering of Al-Andalus Real Estate Company, which operates in the fields of real estate development and investment related to the retail sector, noting that the prospectus will be published on the Capital Market Authority’s website well in advance of the subscription start date.»

For his part, the CEO of Al-Andalus Real Estate Company, Eng. Ayman bin Muhammad Al-Mudayfer, expressed his appreciation and gratitude for the Capital Market Authority’s decision to approve the company’s initial public offering.He added that Al-Andalus Real Estate is active in the construction, ownership, management, and operation of shopping centers, as well as the ownership and development of land and real estate.