Al Akaria to Build SAR 226 Mln Residential Complex in Riyadh.
September 21, 2016
Saudi Real Estate Company (Al Akaria) has obtained building permits related to the construction of a 161-unit residential complex in Riyadh for a total cost of SAR 226 million, the real estate developer said in a statement to Saudi bourse, Tadawul.
The project will be financed by available credit facilities and operating cash flows and will be completed after 24 months of the date of signing the contract.
The construction is expected to reflect positively on the company’s financial results.