Client signed a memorandum of understanding (MoU) with Al Tahaluf Real Estate Co. to establish a special purpose vehicle (SPV) to develop 250 to 296 residential villas within Al Akaria Park masterplan in Riyadh at an estimated development cost of SAR 377 million.
Client entered into a joint venture agreement with Al Tahaluf Real Estate Co. to develop this project. Unit sales will start after obtaining an off-plan sales license and the project will likely have a positive impact on the company’s results, after the start of sale.
May
24
2023
Wednesday
LAST UPDATED
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