Saudi's Al Akaria inks agreement to purchase $37.86mln residential lands

Located Sedra Masterplan Community, the lands will be developed by Al Akaria according to the key principles of Sidra Masterplan Community Declaration

June 27, 2022 Saudi Arabia Real Estate

Saudi's Al Akaria inks agreement to purchase $37.86mln residential lands

Saudi Real Estate Company (Al Akaria) has signed a SAR 141.97 million agreement with Roshn Real Estate Company to purchase residential lands with a development obligation.

Located in Package K1 and K2 of Sedra Masterplan Community, the lands will be developed by Al Akaria according to the key principles of Sidra Masterplan Community Declaration, according to a bourse filing on Thursday.

The company seeks to benefit from the strategic location of Sedra Masterplan to establish a wide range of residential units with diversified sizes to be offered in the market.

To contribute to the company's overall sales revenues in the short term, the transaction will be financed from Al Akaria’s financial resources and through Wafi off-plan sale programme.

It is noteworthy to mention that in the first quarter (Q1) of 2022, the company incurred net losses after Zakat and tax of SAR 29.40 million, an annual hike of 539.13% from SAR 4.60 million.

Saudi Arabia Real Estate Investment Sedra Masterplan Community Developers

WATCH

SBEF ABU DHABI EDITION - Highlights!

19TH May, 2026

$Predictive Maintenance, AI & Saudization: Inside Musanadah FM\'s Digital Transformation$

Predictive Maintenance, AI & Saudization: Inside Musanadah FM\'s Digital Transformation

In this episode of The Hub by Built Environment ME, Editor Marisha Singh sits down with Vijay Shankar Kavasseri, Operations Director of Musanadah Facilities Management, at the company's Riyadh office for a candid conversation on what digital transformation actually looks like on the ground in Saudi Arabia's fastest-growing FM sector.

Webinar | Rethinking Legacy Systems in FM Replay

CM today brings to you an interesting and informative webinar, powered by Facilio, where we will explore how one can go beyond the legacy systems in facilities management.

MORE FROM BUILT ENVIRONMENT

Muheel Advances Innovative and Sustainable Professional Cleaning in Saudi Arabia Through Strategic Partnership with Sutter Group, Al Bariq

Collaboration brings together international innovation, local market capability and operational expertise to raise professional cleaning standards across the Kingdom

September 24, 2026 Saudi Arabia IFM

H&H Reaches Key Construction Milestone At Aldar’s Flagship DIFC Commercial Tower

Flagship commercial tower in DIFC moves into main works following completion of early site preparations

September 24, 2026 UAE Real Estate

Tork Helps Middle East Businesses Optimise Washroom Management With Data-Driven Cleaning

High-capacity dispensing solutions help facility managers improve operational efficiency, maintain hygiene standards and support smarter cleaning during periods of increased demand

September 18, 2026 UAE Business

MEFMA Awards of Excellence Recognises Record 35 Winners and Highly Commended Recipients

The 2026 awards brought together FM clients, service providers, suppliers and individual professionals from across the region

September 18, 2026 UAE IFM

Rove Hotels, Irth Group Announce Exclusive Partnership To Deliver New Pipeline Of Projects Across The UAE

Rove Home Downtown, the first project to come out of the collaboration between both companies, is nearing completion, with handover of residences shortly

September 18, 2026 UAE Real Estate

Disciplined Design, Value, and Broker Trust: How Neoterra Developments Is Shaping Dubai's Evolving Residential Market

Naresh Perwani, Founder and Chairman of Neoterra Developments, reflects on the rapid sell-out of EIRA, the shift toward end-user sophistication in Dubai real estate, and why measured growth takes priority over volume

September 9, 2026 UAE Real Estate

Fifth MEFMA Awards Set to Shine a Global Spotlight on Regional Facilities Management Excellence

The exclusive awards ceremony and gala dinner will recognise excellence across a diverse range of categories spanning clients, service providers, suppliers and individuals

September 9, 2026 UAE IFM

Rheem Middle East Introduces Wave Series: Smart Commercial Pool Inverter Heat Pumps For The MEA Market

Developed to meet the MEA region’s evolving sustainability requirements, the latest inverter technology has been integrated to optimize compressor and fan speed

September 3, 2026 UAE Energy & Waste Management

The Fundamentals UAE Architects Already Know Now Matter More: Think Neighbourhood, Not Just A Building

Discover how urban design in the UAE is evolving beyond supertall skyscrapers to embrace human-centric, sustainable master planning

September 3, 2026 UAE Business

A Practical Guide to the Muqawala Provisions under the New Civil Code

An expert legal analysis detailing how Federal Decree-Law No. 25/2025 (the New Civil Code) reshapes UAE construction law, highlighting the balance between maintaining traditional muqawala statutory baselines and introducing targeted reforms around contract hardship, notice obligations, decennial liability, and employer termination rights

September 3, 2026 UAE Business