First Avenue unveils project updates, completion rates

Logo of First Avenue for Real Estate Development Co.

First Avenue for Real Estate Development Co., which is listed on the Nomu-Parallel Market, announced a business development report for the second quarter of 2025.

 

In a statement to Tadawul, the company said the business and project updates report will be updated quarterly. It will include additional information that aligns with shareholder expectations and strengthens the company’s disclosure and transparency practices.

 

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The move comes in line with the company’s commitment to enhancing transparency and improving its disclosure framework.

 

In the report, First Avenue unveiled the recent updates on its ongoing projects and their completion rates, indicating the 100% implementation of five projects, while another two were 99% finalized. This is besides the 96% execution of one project, as shown below:

 

Summary of First Avenue’s Projects

Project

Type

Leasing/Selling Area (sqm)

Completion Rate

Capital Avenue (Al Qirawan)​

Office

11180

48%

Capital Avenue (Qurtobah)

Office

11727

96%

Almohammadiyah Avenue

Office/Residential/ Commercial

9451

100%

Diriyah Avenue

Residential

31511

72%

La Perle Residential - Al Nakheel

Residential

7493

100%

Al Basateen Avenue

Residential/ Commercial

46082

7%

Industrial land in Al Kharj

Infrastructure development

In the planning phase

--

Al Shate’a Real Estate Fund

Office/Residential/ Commercial

In the planning phase

--

La Perle Real Estate

Residential

In the planning phase

--

Jadah Al-Bahr Real Estate        

Office/Residential/ Commercial

In the planning phase

--

La Perle East

Commercial - Office

11165

99%

La Perle West

Commercial - Office

5679

99%

Shorfat Al Majdiah

Commercial - Office

5900

100%

Malqa Najd

Residential

10300

100%

Al Nakheel Avenue 119

Residential

16028

100%

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