Advertisement
|12 July, 2018

Saudi Arabia's Al Akaria to launch new $272mln unit

Al Akaria's new unit will develop Alwadian Project on 7 million square metres land in Al Malqa district.

View shows the King Abdullah Financial District, north of Riyadh, Saudi Arabia, March 1, 2017. Image used for illustrative purpose.

View shows the King Abdullah Financial District, north of Riyadh, Saudi Arabia, March 1, 2017. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

Riyadh –  Saudi Real Estate (Al Akaria) has announced that the Ministry of Commerce and Investment has issued a decree permitting the company to incorporate a closed joint stock company under the name of Alwadian Saudi Real Estate Company.

The new company’s capital will reach SAR 1 billion divided into 100 million shares, according to a filing to the Saudi Stock Exchange (Tadawul).

Alwadian is planned to be headquartered in Riyadh, the company added in a statement.

Advertisement

Al Akaria's new unit will develop Alwadian Project on 7 million square metres land in Al Malqa district.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.