Saudi Real Estate Co. (“Al-Akaria”) announces Contract Sign Off with Saudi Real Estate Construction Company (“Tamear”) ,one of its fully owned subsidiaries, to implement the works of Al-Narjis Business Park at Al-Narjis district in Riyadh
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement made by Saudi Real Estate Co. (“Al-Akaria” or “the Compnay”) regarding the project Award for the implementation of Civil, Structural, Architectural, MEP, And External Works of “ Al-Narjis Business Park “ at Al-Narjis district in Riyadh with Saudi Real Estate Construction Company (“Tamear”) on 16th October 2025.
The Company would like to announce that it has signed on 30 November 2025, a contract for the implementation of civil, structural, architectural, electromechanical, and external works for the “Al- Narjis Business Park” project, located in Al Narjis district, Riyadh, with the Saudi Real Estate Construction Company (“Tamear”). |
| Date of Announcement of the Award | 2025-10-16 Corresponding to 1447-04-24 |
| Contract Subject Matter | Execution of Civil, Structural, Architectural, MEP, and External Works.
The project consists of a variety of leasable spaces, including offices, restaurants, outdoor plazas, and landscaped green areas. |
| The Entity with Which the Contract was Signed | Saudi Real Estate Construction Company (“Tamear”) |
| Date of Signing the Contract | 2025-11-30 Corresponding to 1447-06-09 |
| Contract Value | SAR 338,784,971 (excluding VAT) |
| Contract Details | Execution of Civil, Structural, Architectural, MEP, and External Works.
The project consists of a variety of leasable spaces, including offices, restaurants, outdoor plazas, and landscaped green areas. |
| Contract Duration | (730) Seven hundred and thirty calendar days |
| Financial Impact and the Relevant Period | The financial impact will appear on the financial statements starting from the fourth quarter of 2025 |
| Related Parties | No related parties |
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