ARDCO Annual Report 2023 English

Our Strategic Objectives

Our Strategy Our Vision We strive to be the sustainable partner of choice to cultivate urban development and elevate human welfare, building on Riyadh’s legacy towards promising horizons. Our Mission We strive for excellence in real estate development and management , and to strengthen our pioneering position in the fresh produce and public good services sector. We are committed to enhancing our operational efficiency in our businesses and aim to diversify our investments , increasing returns on our assets , and maximizing total shareholder return. We will operate within a business philosophy that seeks to create impact all around us and achieve sustainability in its broadest sense. This is for the benefit of everyone across our value chain , including our customers , colleagues , partners and shareholders. Our Values ARDCO prides itself on its steadfast approach in its business through our set of holistic values:

At ARDCO , we strive with all our efforts and resources to achieve the following strategic objectives:

1.

Double our net income over the next 10 years , by 2032.

2. Achieve revenues close to SAR 1 billion within the next 10 years.

3. Improve profit margins from 60% to 68% within the next 10 years

4. Transition the capital structure from all-equity to one that comprises a 28% leverage in 5 years and a 23% in 10 years.

03. Adaptability ARDCO values adaptability in managing a diverse portfolio by keeping a finger on the pulse of global best practices in building sustainable mixed-use projects. We view it as a key factor and a core value that makes us a constant example of progress and prosperity. 01. Commitment ARDCO values commitment to the highest standard of quality in all our initiatives , providing our shareholders with periodic reports on our financial performance and constantly informing them of our corporate decisions. 05. Collaboration ARDCO values the spirit of cooperation and the importance of working as a singular team. As we are responsible for the needs of our employees , we invest in their capabilities through continuous development and training to help achieve their personal and professional goals with the organization.

04. Excellence ARDCO values excellence in all our projects and innovation in all our initiatives. We aim to achieve our vision and mission through our commitment to our values to be the highest standard of excellence for urban architecture that sets the ultimate priority on human well-being. 02. Credibility ARDCO values credibility through transparency and active communication as we consider it to be a key characteristic of the positive , successful relationship with our shareholders as well as our status as the model partner for all. 06. Initiative ARDCO values the proactive initiative of our employees to contribute to our collective success. We care deeply about our employees and support them in taking innovative actions , as they are the key driving force for individual and collective progress.

5. Maximize shareholders total return as an outcome of the strategy through dividend and potential capital gain.

6.

Launching more sustainable projects based on a more balanced mix of real estate , fresh produce , existing and future leasing business , and other investment opportunities.

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