Emaar Properties: The land whose title deed has been revoked in...

– Mubasher: She confirmed Emaar Real Estate Company The value of the land whose title deed was canceled in Saudi Arabia was not reflected in the consolidated financial statements for the year 2019.

The company clarified in a statement to the Dubai Financial Market that the court’s decision to cancel the title deed does not result in any material financial impact on it..

It indicated that the mentioned land is not owned by Emaar or its subsidiary since 2016, the date of separation from the partners in the Kingdom of Saudi Arabia..

The company had previously indicated that the news circulating in some media about the cancellation of a land bond with an area of ​​13 million square meters of a subsidiary of Emaar Properties. It has no substantial effect.

She pointed out that the land is not currently owned by Emaar or its subsidiary.

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