Logo of Saudi Real Estate Co.
Saudi Real Estate Co. (Al Akaria) signed on Nov. 15 a SAR 284.9 million contract with Saudi Real Estate Construction Co. (Tamear), one of its wholly-owned subsidiaries.
The 24-month contract aims to execute civil, construction, architectural, electromechanical, and external works for the residential complex in the Diplomatic Quarter (Reef Project), Al Akaria said in a statement to Tadawul today, Nov. 16.
The financial impact will appear in the financial statements starting from the fourth quarter of 2023.
No related parties are involved, the statement added.
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