Al Akaria Sells Two Plots of Land in Riyadh and Medina for SAR 85.6 Million

The Saudi Real Estate Company (Al Akaria) has announced the successful sale of two plots of land located in Medina’s Eastern Harrah district and Riyadh’s Al-Zahraa district. The transaction, which took place through an electronic public auction on February 5, 2025, totaled SAR 85.6 million.

According to the company, the Medina land spans 63,493.34 square meters, with a sale value of SAR 69.8 million, while its book value stands at SAR 10.5 million.

Meanwhile, the Riyadh land covers 2,241 square meters, with a sale value of SAR 15.7 million and a book value of SAR 2.53 million.

As per the announcement published on Tadawul, the divestment of these non-core assets aligns with Al Akaria’s 2023 strategy, which focuses on:

• Maximizing shareholder returns
• Diversifying income sources
• Achieving a balanced and healthy capital structure

This transaction is expected to enhance the company’s liquidity and support new development projects, contributing to its long-term strategic objectives.

Deal Details:

• Seller: Saudi Real Estate Company (Al Akaria)
• Buyer of Medina Land: Sultan Zakari Al-Zakari