Al Akaria signs land purchase agreement conditional on development with ROSHN at SR323.6 mln

Saudi Real Estate Company (Al Akaria) signed a Conditional Sale Purchase Agreement with a development obligation for land parcels situated within Package C1 & C2 & C3 in Phase 2A of Sedra Masterplan Community, with a transaction value of SR323,667,450.
This agreement with ROSHN, a specialized national company, powered by the Public Investment Fund, focusing on delivering unique residential communities according to the highest standards of the Residential Sector.
Al Akaria entered into this Sale Purchase Agreement to benefit from the strategic location of Sedra Masterplan, including the key features of the Masterplan Community by developing a wide range of different residential units with various sizes, which will be offered in the market through Wafi Program after procuring the Off-Plan Sale License.
This agreement will contribute to increase Al akaria’s revenues arising from development and sales operations on the Short Term (2 to 3 years).
Residential lands (290 plots) with total land area of 92,450 sqm within Package C1 & C2 & C3 in Phase 2A of Sedra Masterplan Community.