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×Al Akaria sets up maintenance and properties management company
Saudi Real Estate Co. (SRECO) established new company named Saudi-Korean Company for Maintenance and Properties Management (SAKOM). The company was established in partnership with POSCO E&C Saudi Arabia and POSMATE Korea Co. Saudi Real Estate Co. (SRECO) owns 60 percent into the new company, and the remained share is held by the Korean partner.
Deal Value | Method of Finance | Type | Status |
5.33 Million USD | Internal Resources | Participate in Foundation | Completed |
The First Party
Saudi Real Estate Co. - ALAKARIA | |
Country | Saudi Arabia |
Status | Listed |
Argaam Sector | Landlords and developers |
*Market Cap (Million SAR) | 8,235.00 |
*Price/Share (SAR) | 21.96 |
Bosmit Ltd. Co. - Bosmit Ltd. | |
Country | south korea |
Status | Unlisted |
Argaam Sector | - |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
POSCO E&C Co.- Saudi Arabia - POSCO E&C - Saudi Arabia | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | - |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
The Second Party
Saudi Korean for Maintenance and Property Management Co. - Saudi Korean for Maintenance and Property Management | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | - |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
- *Based on the latest data available
Important Dates
Announced Date | 21-10-2017 |
Expected date for Completion | 21-10-2017 |
Main Details
The new company will maintain and operate private and public properties including residential, office, commercial, industrial and educational properties.
The new subsidiary was set up by Al Akaria to be an executive arm to maintain and operate the company’s existing and new projects.
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