Riyadh - Mubasher: Riyadh Development Company has officially adopted the Global Investment Performance Standards (GIPS) for asset owners, issued by the CFA Institute.

The company confirmed the completion of an independent verification of its investment performance policies and procedures, marking a significant step in aligning its financial reporting with international best practices.

The implementation process was executed in two distinct phases. The first phase involved developing the company’s institutional infrastructure, internal policies, and performance calculation methodologies.

The second phase consisted of an independent verification conducted by The Spaulding Group Performance (TSGP) to ensure full compliance with GIPS requirements.

This move is intended to provide consistent and comparable performance reports for investors, lenders, and regulatory bodies. The adoption of these standards is part of a broader strategy to strengthen corporate governance, risk management, and transparency.

Riyadh Development stated that these efforts support its strategic objectives and contribute to the goals of Saudi Vision 2030. The company has previously secured multiple ISO certifications as part of its ongoing commitment to international quality and sustainability standards.

In June, the company was assigned a long-term credit rating of ‘A-‘ on the Saudi Arabia national scale by S&P Global Ratings.