Al-Akaria buys land in Riyadh to develop realty projects

29/10/2014 Argaam

Saudi Real Estate Company (Al Akaria) bought a 7.1 million square meter landin northern Riyadh for SAR 2.13 million on which to build realty projects to revive its income.
 

The company paid up a hundred million riyals as downpayment and the remaining sum will be released on handover, a filing to Tadawul said.


The deal was financed by a four-year, SAR 2.2 billion Sharia-compliant facility from the National Commercial Bank (NCB).

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