Al Akaria awards 2 contracts in Riyadh for SAR 763.8M

Logo of Saudi Real Estate Co. (Al Akaria)

Saudi Real Estate Co. (Al Akaria) announced the award of a SAR 338.78 million (excluding VAT) contract for the Narjis Business Park project in Riyadh to Saudi Real Estate Construction Co. (Tamear).

In a statement to Tadawul, the company said the project included a variety of rental spaces such as offices, restaurants, outdoor areas, and landscaped zones. It will cover civil, structural, architectural, electromechanical, and external works.

In a separate statement, Al Akaria announced the award of a contract for the construction of the SEDRA 2 residential compound in the SEDRA-Roshn district of Riyadh to Rezaik Abdullah Saeed Al Gedrawy Al-Thubaiti and Partners Co. Ltd. for SAR 425 million (excluding VAT).

The company stated that the scope of work included civil, structural, architectural, electromechanical, and external works for the SEDRA 2 residential project, which comprises 310 villas of various sizes ranging from 250 to 450 square meters (sqm), on a total land area of 92,450 sqm.

The company confirmed that no related parties are involved in the project.