Al Akaria Secures Ministry of Commerce Approval to Raise Binyah’s Capital to SAR 300 Million

Saudi Real Estate Company (“Al Akaria”) announced the Ministry of Commerce’s approval to increase the capital of its subsidiary, Saudi Real Estate Infrastructure Company (“Binyah”), from SAR 50 million to SAR 300 million.

In a statement on “Tadawul,” Al Akaria explained that the increase will be achieved by capitalizing SAR 250 million from retained earnings. The new capital is divided into 300 million shares, each with a nominal value of SAR 1, fully paid as ordinary cash shares.

Binyah, a 60%-owned subsidiary of Al Akaria, is a leading national company specializing in infrastructure development. Its expertise spans constructing roads, bridges, tunnels, oil and gas pipelines, water distribution stations, and sewage networks. Additionally, the company engages in marine infrastructure projects, site preparation works, and other critical infrastructure endeavors.

The capital increase aims to enhance Binyah’s financial position, enabling it to expand operations and pursue large-scale infrastructure projects.