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Al-Andalus Property announces the latest developments related to its joint venture with Al-Rajhi & Sons Investment Company in Jeddah (Al Marwa Center)

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Introduction Further to the Company's announcement published on 19 July 2018 related to the Company's joint venture with Mohammed Abdul Aziz Al Rajhi & Sons Investment Company to establish a commercial center in Jeddah (Al-Marwa Center), of which 70% is owned by the Company while 30% is owned by Mohammed Abdul Aziz Al Rajhi & Sons Investment Company, The company would like to announce to its shareholders that the mentioned project has commenced operation, as per the following:
Date of previous announcement 2018-07-19 Corresponding to 1439-11-06
Progress % 100%
Expected completion date of the event the project has commenced operation
Reasons for exceeding the announced end date Commencement of operation was delayed beyond the previously announced date (end of the fourth quarter 2018) due to the time spent to meet the requirements of the regulatory authorities.
Expenses related to the event and whether it changed or not with the justification no material changes in construction’s cost.
Impact of delay on the company’s financial results No material impact on the Company’s financial results.
Additional Information no additional information.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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