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Banan Real Estate Co. Announces an update on Signing a Memorandum of Understanding with Armah Sports Company to develop six (6) fitness clubs over five years through the establishment of a real estate fund.

09/04/2025

Element List	Explanation
Introduction	Banan Real Estate Company is pleased to announce the signing of an Amended Annex to the Memorandum of Understanding on Tuesday, 08/04/2025, The amendment includes the development of ten (10) clubs instead of six (6), through the establishment of a real estate fund, its subsidiaries, or various financing sources.
Previous Announcement	Signing a Memorandum of Understanding with Armah Sports Company to develop six (6) fitness clubs over five years through the establishment of a real estate fund.
Date of Previous Announcement on Saudi Exchange’s Website	2024-08-04 Corresponding to 1446-01-29
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	Signing of Amended Annex to the Memorandum of Understanding on Tuesday, 08/04/2025, to include the development of ten (10) clubs instead of six (6), through the establishment of a real estate fund, its subsidiaries, or various financing sources.
Reasons For The Delay on The Date of The Event Previously Announced	is not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons.	is not applicable
Delay consequences on the Company’s financial results	is not applicable

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