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Saudi Real Estate Company (Al Akaria) Holds General Assembly Meeting
By KlickAnalytics Data Insights | June 30, 2026 02:03PM ET
- Shareholders approve financial statements and board of directors' reports
- Appointment of external auditor and board remuneration totaling SAR 1.85 million approved
- Ratification of related-party transactions and competition clauses for board members
The Saudi Real Estate Company (Al Akaria) recently conducted its Ordinary General Assembly meeting on 29 June 2025, where shareholders gave the green light to the company's financial statements, board of directors' reports, and discharged the board members from liability for the 2025 fiscal year ending. Additionally, the meeting saw the approval of auditor appointments, board remuneration amounting to SAR 1.85 million, and several related-party transactions and competition clauses for specific board members.
In a submission to the Saudi Exchange (Tadawul), a major point of discussion during the assembly was the review and endorsement of the company's performance for the fiscal year 2025. Shareholders officially signed off on the board of directors' report and the external auditor's report, while also absolving the board of liability for that period.
To manage the upcoming financial cycles, the assembly gave the thumbs up to the appointment of Moore El Sayed El Ayouty & Co. as the external auditor. With responsibilities including reviewing and auditing financial statements for the upcoming periods of 2026 and the first quarter of 2027, the firm's total fees amount to SAR 860,000, exclusive of value-added tax.
Concerning governance and leadership, shareholders ratified the board's decision to appoint Saham bin Hani Youssef Nasser as a non-executive director. Effective from 16 April 2026, his appointment aims to complete the current board term ending on 9 February 2029, succeeding the vacancy left by former non-executive member Hathal bin Saad Al Otaibi.
The assembly also deliberated on professional competition and related-party deals, with shareholders granting approval for specific board members to engage in businesses that compete with the company's operations. Acknowledging a related-party transaction with Al Somoud Second Real Estate Development and Investment Company in 2025, shareholders greenlit the sale of undivided land in Riyadh and confirmed the transaction, yielding SAR 1.72 million for Al Akaria without any preferential terms.
Lastly, shareholders approved the company's Corporate Social Responsibility policy, signifying the commitment to social initiatives. The successful meeting indicates shareholder consensus on Al Akaria's administrative and financial direction for the 2026 fiscal period, maintaining regulatory compliance and operational continuity within the Saudi real estate sector.
- Appointment of external auditor and board remuneration totaling SAR 1.85 million approved
- Ratification of related-party transactions and competition clauses for board members
The Saudi Real Estate Company (Al Akaria) recently conducted its Ordinary General Assembly meeting on 29 June 2025, where shareholders gave the green light to the company's financial statements, board of directors' reports, and discharged the board members from liability for the 2025 fiscal year ending. Additionally, the meeting saw the approval of auditor appointments, board remuneration amounting to SAR 1.85 million, and several related-party transactions and competition clauses for specific board members.
In a submission to the Saudi Exchange (Tadawul), a major point of discussion during the assembly was the review and endorsement of the company's performance for the fiscal year 2025. Shareholders officially signed off on the board of directors' report and the external auditor's report, while also absolving the board of liability for that period.
To manage the upcoming financial cycles, the assembly gave the thumbs up to the appointment of Moore El Sayed El Ayouty & Co. as the external auditor. With responsibilities including reviewing and auditing financial statements for the upcoming periods of 2026 and the first quarter of 2027, the firm's total fees amount to SAR 860,000, exclusive of value-added tax.
Concerning governance and leadership, shareholders ratified the board's decision to appoint Saham bin Hani Youssef Nasser as a non-executive director. Effective from 16 April 2026, his appointment aims to complete the current board term ending on 9 February 2029, succeeding the vacancy left by former non-executive member Hathal bin Saad Al Otaibi.
The assembly also deliberated on professional competition and related-party deals, with shareholders granting approval for specific board members to engage in businesses that compete with the company's operations. Acknowledging a related-party transaction with Al Somoud Second Real Estate Development and Investment Company in 2025, shareholders greenlit the sale of undivided land in Riyadh and confirmed the transaction, yielding SAR 1.72 million for Al Akaria without any preferential terms.
Lastly, shareholders approved the company's Corporate Social Responsibility policy, signifying the commitment to social initiatives. The successful meeting indicates shareholder consensus on Al Akaria's administrative and financial direction for the 2026 fiscal period, maintaining regulatory compliance and operational continuity within the Saudi real estate sector.
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