| Element List |
Explanation |
| Introduction |
Saudi Real Estate Company (Al-Akaria) announces the signing of a memorandum of understanding with Al Tahaluf Real estate Company to establish a Special Purpose Vehicle for the purpose of developing 250 residential villa units within Al-Akaria Park Masterplan in Riyadh city with an estimated total development cost of SAR 377MN. |
| Memorandum Signing Date |
2023-01-23 Corresponding to 1444-07-01 |
| Counterparty |
Al Tahaluf Real Estate Company |
| Memorandum Subject |
Establish a Special Purpose Vehicle for the purpose of developing 250 residential villa units within Al-Akaria Park Masterplan in Riyadh City. |
| Memorandum Duration |
2 months |
| Related Parties |
No Related Party |
| Financial Impact |
The financial impact will be determined after completing all related studies and procuring the required approvals relevant authorities. |
| Additional Information |
Al Tahaluf Real Estate Company, owned by Hamad bin Muhammad bin Saedan and Partners for investment and Hovnanian M.E. Investments LLC, and they are specialization in construction all types of residential buildings. |
Comments