Al-Ahsaa to set up new realty firm with SAR 500,000 capital

02/09/2014 Argaam

Al-Ahsa Development Company said today that it was completing regulatory procedures to set up a real estate limited liability company with a capital of SAR 500,000.

The new company will be wholly owned by Al-Ahsa through a 99 percent direct stake and one percent indirect shareholding.

It will specialize in buying vacant land, building and operating investment projects and maintaining real estate units.

Other regulatory procedures are yet to be pursued.

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