Al Akaria Sells 17 Land Plots in Al Dhahia Project for SAR 145.1 Million

The Saudi Real Estate Company (Al Akaria) announced the successful sale of 17 land plots, covering a total area of 43,290 square meters, within the Al Dhahia Project in Riyadh’s Al Rimal district. The sale, conducted via an electronic public auction, totaled SAR 145.1 million, excluding real estate transaction taxes and brokerage fees.

The buyers include Almutamadah Gate for Development and Real Estate Investment, Ali bin Abdulrahman bin Ali Alsanan, Haifa Misfer Sulaiman Almisfer, and Ahmed Abdullah Hamad Alhunaitah. The plots’ book value stood at SAR 19.1 million.

This divestment is aligned with Al Akaria’s 2023 strategy, focusing on maximizing shareholder returns, diversifying income streams, and achieving a balanced capital structure. The proceeds will be directed toward financing future projects.