Saudi Real Estate Co. (“Al-Akaria”) announces the Signing of a contract for the implementation of "Excavation for Metro-Box Central, Metro-Box South and Metro-Box East and Related Works” with the Diriyah Gate Company Limited (DGCL) to one of its subsidiaries “Saudi Real Estate Infrastructure Company (Binyah)”
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement made by Saudi Real Estate Co. (“Al-Akaria”) (The Company) regarding the awarding of a contract for the implementation of "Excavation for Metro-Box Central, Metro-Box South and Metro-Box East and Related Works” with the Diriyah Gate Company Limited (DGCL) to one of its subsidiaries “Saudi Real Estate Infrastructure Company (Binyah)” on 20th December 2023.
The Company would like to announce to its esteemed shareholders that the contract for the implementation of "Excavation for Metro-Box Central, Metro-Box South and Metro-Box East and Related Works” has been signed on 1st April 2024 |
| Date of Announcement of the Award | 2023-12-20 Corresponding to 1445-06-07 |
| Contract Subject Matter | The contract includes the implementation of Excavation for Metro-Box Central, Metro-Box South and Metro-Box East and Related Works |
| The Entity with Which the Contract was Signed | Diriyah Gate Company Limited (DGCL) |
| Date of Signing the Contract | 2024-04-01 Corresponding to 1445-09-22 |
| Contract Value | 722,096,226.00 Saudi Riyals. (Including VAT) |
| Contract Details | The contract includes the implementation of Excavation for Metro-Box Central, Metro-Box South and Metro-Box East and Related Works |
| Contract Duration | 1,276 calendar days |
| Financial Impact and the Relevant Period | The financial impact will appear on the financial statements starting from the first quarter of 2024 |
| Related Parties | Public Investment Fund |
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