Al Akaria signs SAR 159.6M deal for Tilal Al Riyadh project

Saudi Real Estate Co. (Al Akaria) signed on April 1 a contract to implement the civil, structural, architectural, electromechanical and external works for Tilal Al Riyadh mixed-use project in Al Malqa district.

Al Akaria signed the SAR 159.6 million contract with its 100%-owned subsidiary Saudi Real Estate Construction Co. (Tamear), according to a statement to Tadawul.

The contract will be implemented over 22 months.

The financial impact from the contract will show in Q2 2024, the statement noted, adding that there are no related parties to the deal.