Almuneef clarifies cost of constructing 3 factories in Al-Kharj

Almuneef clarifies cost of constructing three factories in Al-Kharj

Almuneef Co. for Trade, Industry, Agriculture and Contracting signed a contract with Enmaa Construction Establishment for General Contracting to construct three factories on land owned by the company in the Al-Rafai’ district of Al-Kharj, with a total value of SAR 1.30 million, excluding value-added tax (VAT).

In a statement to Tadawul, the company said the final contract cost will be determined based on the actual quantities of work executed at the site and the applicable unit prices.

The construction period will not exceed six months, in addition to any delays related to insurance representative procedures.

The company added that this step aligns with its expansion strategy outlined in its new 2026–2030 strategic initiatives, and aims to diversify its investment activities. The project will be financed through the company’s internal resources.

According to data available with Argaam, Almuneef signed a contract on Dec. 22 with the relevant construction entity to build three factories on its industrial land in Al-Kharj Governorate.

In June 2023, the company purchased two industrial land plots in Al-Kharj with a total area of 2,030.7 square meters for SAR 2.1 million. These plots will complement a previously acquired plot measuring 1,015.3 square meters, purchased for SAR 926,400, in the same industrial area in Al-Kharj.