Saudi-listed Asas Makeen for Real Estate Development and Investment Co. has signed a 99.72 million Saudi riyal ($26.58 million) contract to build a residential project in Riyadh.

The contract was awarded to Qemat Hattaba Real Estate Co., the company said in a statement to the Saudi Stock Exchange. 
 
The 18-month contract includes the construction of a residential project spanning 19,590 sq m of land area, featuring 230 units, in the Al-Naseem district.
 
The deal is expected to positively impact Asas Makeen’s results starting from the fourth quarter of 2025, the statement said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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