ALAKARIA signs excavation and fencing works contract for AlYamamah residential project in Riyadh, at SR3.8 mln

The Saudi Real Estate Company (ALAKARIA) announced on Tuesday the signing of a contract with First Nile Company for the implementation of excavation and fencing for the Al Yamamah residential project in the Diplomatic Quarter in Riyadh, at a value of SR3,786,516, for a period of 4 months.
The company said in a statement on Tadawul that the Al-Yamamah project is one of the projects mentioned in the prospectus of the Saudi real estate rights issue, which will be financed from the proceeds of the offering, indicating that the costs will be capitalized as part of the project cost, and there are no related parties.