Al Akaria says Al Remal District residential villas 87.4% complete

02/11/2020 Argaam

Saudi Real Estate Co. (Al Akaria) said the residential villas in Al Remal District are 87.44% complete.

 

The project is expected to be finalized by April 30, 2021, the company said in a bourse statement, noting that there are no variable costs on the delay.

 

In June 2017, Al Akaria signed a construction contract with its 60%-owned subsidiary, Saudi Real Estate Construction Co., to build 511 residential units at a total cost of SAR 538.28 million in Al-Remal District, according to data compiled by Argaam.

 

The company previously expected to complete the project by Q4 2019.

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