Al Akaria inks SAR 284.9 mln contract with subsidiary

16/11/2023 Argaam

Al Akaria inks SAR 284.9 mln contract with subsidiary

Logo of Saudi Real Estate Co.

Saudi Real Estate Co. (Al Akaria) signed on Nov. 15 a SAR 284.9 million contract with Saudi Real Estate Construction Co. (Tamear), one of its wholly-owned subsidiaries.

 

The 24-month contract aims to execute civil, construction, architectural, electromechanical, and external works for the residential complex in the Diplomatic Quarter (Reef Project), Al Akaria said in a statement to Tadawul today, Nov. 16.

 

The financial impact will appear in the financial statements starting from the fourth quarter of 2023.

 

No related parties are involved, the statement added.

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