Thimar board approves using FV or revaluation model to measure real estate assets

30/12/2021 Argaam

Logo of Thimar Development Holding Co.

Thimar Development Holding Co.’s board of directors approved today, Dec. 30, using the fair value (FV) or revaluation model to measure real estate and investment properties.

 

The expected financial impact on net assets will become clear through the revaluation process, and the expected financial impact be reflected on Q1 2022 results, Thimar said in a statement to Tadawul.

 

The company added that the use of the new accounting policy does not generate any internal cash flow.

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