Saudi Real Estate : Akaria Signs SAR66.86m Contract
December 28, 2016
Saudi Real Estate Co. (Akaria) said it signed a contract worth SAR 66.86 million ($17.83 million) with Saudi Real Estate Construction.
Under the agreement, Akaria will carry out the construction of 21 residential property, said a bourse filling.
The contract duration will be 18 months and its financial impact will be reflected on Akaria financial statements starting from the first quarter of 2017.
Notably, Saudi Real Estate Construction is 60% owned by Akaria.