Adeer signs deal to market, sell land plots in Riyadh

Logo of Adeer Real Estate Co.

Adeer Real Estate Co. signed a contract on Sept. 30 with Asar Investment Co. to market and sell land plots in Riyadh as part of the Al Alia Hills project, owned by Asar.

The contract covers 1,176 plots with a net total area of approximately 501,700 square meters.

In a statement to Tadawul, Adeer said the contract value is estimated at 9% of its revenues, based on the company’s latest approved annual financial statements.

The contract has a duration of 12 months from the signing date, Adeer said, expecting a positive financial impact upon the sale and transfer of the plots to the buyer and the collection of its fees.

According to data available with Argaam, Adeer’s revenues reached SAR 121 million in 2024, implying that the contract value is estimated at around SAR 11 million.

Adeer specializes in real estate marketing, property sales management, and property management services.