Riyadh - Mubasher: Saudi Real Estate Company (Al Akaria) has awarded two contracts worth a combined value of SAR 763.78 million on 15 October for projects in Riyadh.

The company awarded a SAR 338.78 million contract to Saudi Real Estate Construction Company (Tamear), its fully owned subsidiary, according to a bourse filing.

The contract aims to execute civil, structural, architectural, MEP, and external works for the Al-Narjis Business Park in Al-Narjis district.

Meanwhile, the park will offer a mix of leasable spaces, including offices, restaurants, outdoor plazas, and landscaped green areas.

Al Akaria also signed a SAR 425 million contract with Rezaik Abdullah Saeed Algedrawy Althabeti & Partners Company, according to another bourse filing.

The contract covers the development of the 92,450-square-meter (m2) Fai Sedra 2 development scheme in the Sedra district, Roshn.

The project includes 310 villas ranging from 250 to 450 m2 with full civil, structural, architectural, MEP, and external works.

During the January-June 2025 period, Al Akaria swung to net profits worth SAR 229.60 million, versus net losses of SAR 11.30 million in the same period a year earlier.