Subul Development Co. signed an agreement to acquire one million square metre of land in the Kingdom Riyadh project from Kingdom Holding Company (SASE:4280) for SAR 300 million on December 30, 2012. Kingdom Holding will realize an estimated profit from the sale amounting to SAR 185 million, to be included in Kingdom's financial results for the last quarter of 2012.

Subul Development Co. completed the acquisition of one million square metre of land in the Kingdom Riyadh project from Kingdom Holding Company (SASE:4280) in December, 2012.