SAUDI ARABIA: Riyadh Development Company Announces Compliance with the (GIPS®) and Completion of Independent Verification

Riyadh Development Company Announces Compliance with the Global Investment Performance Standards (GIPS®) and Completion of Independent Verification

RIYADH, SAUDI ARABIA, July 13, 2026 /EINPresswire.com/ -- Riyadh Development Company (ARDCO), a leading publicly listed investment and real estate development firm, has officially established compliance with the

Global Investment Performance Standards (GIPS®) for Asset Owners.
This milestone includes the successful completion of an independent verification of ARDCO’s investment performance policies and procedures, positioning the firm among a select group of global asset owners that uphold high standards of financial transparency and integrity.

Dr. Wael Jundi, Chief Investment Officer at ARDCO, said: "We launched our corporate strategy at the beginning of 2023 under the theme ‘Invest for Growth,’ which focuses on real estate development and investment in line with the best global practices. Establishing GIPS compliance reflects our focus on institutional excellence."

He added: "This process strengthened our internal reporting and governance frameworks, ensuring that our performance data meets globally recognized standards. Independent verification provides additional confidence in the consistency of our performance reporting, further reinforcing ARDCO as a trusted, institution grade investment platform."
The GIPS standards are ethical standards administered by CFA Institute to ensure full disclosure and fair representation of performance, aligns with ARDCO's strategic directive to adopt global best practices. This compliance supports the consistent and transparent reporting of performance data, enabling comparability for international institutional investors, lenders, and regulators.

ARDCO manages a diverse portfolio of approximately SAR 9 billion in assets and continues to develop integrated urban destinations focused on long term sustainable value creation.
The company’s transition to GIPS compliance was carried outin two phases. The first phase involved building a comprehensive reporting infrastructure and establishing a performance measurement framework in partnership with ACA Group, including specialized policies and performance calculation methodologies. The second phase, conducted by The Spaulding Group (TSG Performance), consisted of an independent GIPS verification to assess the ARDCO's policies and procedures and test selected performance related data.

"We are very proud to have partnered with ARDCO on the successful completion of its first GIPS verification," said Chris Spaulding, Managing Director and Chief Growth Officer (CGO) at TSG Performance. "ARDCO’s dedication to strong governance, transparency, and global best practices reflects the increasing importance of GIPS compliance among asset owners worldwide. We look forward to working with ARDCO for many years to come."

CFA Institute commented: "The adoption of the GIPS standards reflects ARDCO’s dedication to transparency, consistency, and global best practices in investment performance reporting. By achieving compliance and undergoing independent verification, ARDCO is helping to elevate standards within the region while supporting greater confidence among international investors. We applaud this milestone and its contribution to strengthening the investment profession."
This announcement forms part of ARDCO's broader institutional excellence journey and its continued adoption of internationally recognized standards across its operations. Inrecent years, the company has built an integrated framework covering governance, risk management, quality, sustainability, information security, and operational excellence through the adoption and certification of multiple global ISO standards.

Together, these efforts are aimed at strengthening transparency, operational efficiency, accountability, and stakeholder confidence, while supporting ARDCO’s long term value creation. The company said its compliance with the GIPS standards marks the latest step in its broader institutional transformation.