Alandalus Property Company announces the latest developments related to Al-Jawhara Al-Kobra in Jeddah (The Village), of which 25% is owned by the Company

19/09/2022 Tadawul
ELEMENT LIST EXPLANATION
Previous Announcement Al-Jawhara Al-Kobra Project (The Village)
Date of Previous Announcement on Tadawul's Website 2022-01-24 Corresponding to 1443-06-21
Percentage of fulfilled achievement Total achievement 89%, representing:

 

100% of structure works and concrete works, 93% of electromechanical works, 81% of facade works, and 81% of interior finishing works).
Event's Expected Completion Date As per the latest report received from the developer partner, construction of the project is expected to be completed in the 4th quarter of 2022G, and accordingly, the project will be operational in the first quarter 2023G.
Reasons for Exceeding the Announced End Date The project’s participation in the 2022 Jeddah Season (through the Boulevard area) as one of the main sites for organizing events, Which resulted in suspending some implementation work to ensure the safety of event-visitors.
The costs associated with the event, and if they have changed or not with indication of the reasons. There is no change from the previously announced cost
Impact of the Delay on the Company's Financial Results No impact.

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