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Al Akaria Park Scheme
Overview
Establishing a residential complex at Al Qadisiyah District, Riyadh, on a total area of 1.9 million square meters. It includes 3,216 land plots for villas, 31 land plots for residential units, in addition to 45 commercial land plots with different sizes. The complex also includes landscapes with a total area of 92,000 square meters, and other educational, health, recreational and service facilities.
Project Information
- Real Estate > Landlords and developers > Other Properties
- In February 2022, the company signed a SAR 119.80 million contract with Mohammmad Al-Ojaimi Contracting Co. to carry out design and infrastructure works of the project.
- The company announced that the first and second phases of the project were fully booked. The two phases comprise 1,778 residential plots, or 55% of the total residential land area in the project. The company announced that it expects the project be complete on Feb. 28, 2024.
- In its 2022 board report, the company revealed that infrastructure works of the project’s land was being developed at a cost of SAR 120 million, the first and second phase, which include 1,778 land plots, were 100% sold, and the project was 40% complete.
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In Q4 2023 investor presentation, the company revealed that the project’s infrastructure works were 90% complete.
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Related Parties
Project Developments
TASI-listed firms' project pipeline for 2024Argaam Special07/01/2024
A look at Al Akaria ongoing projects, future developments Argaam Special14/04/2022
Al Akaria says first, second phases of Al Akaria Park fully reserved Argaam06/06/2022
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