Hamad Bin Saedan signs SAR 21.4M contract to build residential units

08:28 AM (Mecca time) Argaam- Nomu
Logo ofHamad MohammedBinSaedan Real Estate Co.

Logo of Hamad Mohammed Bin Saedan Real Estate Co.

Hamad Mohammed Bin Saedan Real Estate Co. signed a contract, on Oct. 29, with Ashbal Najd General Contracting Corp. to develop the Gold Edition residential units project at a total value of SAR 21.4 million.

 

In a statement to Tadawul, the company said the contract covers all necessary execution works in line with approved designs.

 

The scope includes the construction of 22 residential villas across five different design models within the Gold Edition project.

 

The agreement also encompasses civil, finishing, as well as electrical and mechanical installation works.

 

The contract duration is 12 months, the statement said.

 

Hamad Bin Saedan expects the financial impact to appear upon completion of the project, with revenues generated from unit sales.

 

There are no related parties to the deal, the statement added.

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