Saudi-listed Asas Makeen Real Estate Development and Investment Co. announced on Monday that it has signed an addendum to its construction contract with Al Jada Al Oula Real Estate Development Company for the Al Hada Promenade residential project in Riyadh.

Under the revised agreement, the estimated contract value has been set at 98,756,250 Saudi riyals ($26.3 million), inclusive of value added tax (VAT).

The company said the addendum follows completion of final engineering designs and receipt of required regulatory approvals

Asas Makeen had originally signed the construction contract for the project with Al Jada Al Oula in July 2025.

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

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