Al Akaria signs 1,000-unit allocation agreement with National Housing for SAR 600 mln

01/07/2021 Argaam

Logo of Saudi Real Estate Co.

Saudi Real Estate Construction Co. (Tamear), wholly owned by Saudi Real Estate Co. (Al Akaria), signed today, July 1, an allocation agreement with National Housing Co. (NHC), according to a bourse filing.

 

The agreement includes the implementation of 1,000 housing units in Al Mashreqiya project within NHC's development, with a total amount of up to SAR 600 million.

 

The financial impact will reflect in the company's revenues in Q4 2021, the statement noted.

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