Arriyadh Development’s leasing segment unaffected by COVID-19 preventive measures

Arriyadh Development Co.’s leasing segment, the main contributor to the company’s revenues, remains unaffected by the precautionary measures taken by the Saudi government to curb the COVID-19 outbreak, the developer said in a bourse filing.

However, the revenues of the operational segment could be impacted by the precautionary measures.

The relevant financial impact cannot be presently assessed due to the prevailing uncertainty over the COVID-19 lockdown measures.

The temporary measures will not have a major impact on the company’s future business plans, the statement said, adding Arriyadh’s strong financial position will help it to weather the storm.