Riyadh – Mubasher: Banan Real Estate Company has officially launched its new subsidiary, Emaar Al Waseel Al Mutamayiza, following initial board approval granted on 19 July 2026.
The new entity has been incorporated as a simplified joint stock company with an issued capital of SAR 44.08 million, according to a bourse filing.
The company confirmed that the subsidiary has secured its commercial registration under the unified national number 7054897553. This development follows the regulatory procedures initiated after the board of directors first approved the formation of the unit earlier in the month.
Banan Real Estate stated there are no costs associated with the event that have changed from previous estimates, and there is no financial impact resulting from any delays in the establishment process.
The move aligns with the company's broader strategic objectives for its real estate portfolio and operational expansion.
