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

Smart Built Environment Forum 2025 - UAE Edition Highlights!

UAE Edition Highlights!

Fahad Mohamed on AI in FM and What 2026 Holds in the Digital Transformation Journey

Built Environment ME speaks with FM expert Fahad Mohamed at Proptech Connect about the industry's shift toward digitization, the cultural challenges of adoption, and why AI in facility management is still finding its feet.

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

MERED hosts Emirati Artist Faris Al-Hammadi and Leading Brokers at ICONIC Residences Construction Site

As part of the experience, guests were invited to write personal messages on a wall for future residents, celebrating the UAE's resilience, its unmatched opportunities, and its deep sense of community

April 24, 2026 UAE Real Estate

SEE Holding and World Bank Group’s IFC Announce Advisory Collaboration to Advance The Sustainable City Model

Under the collaboration, IFC will provide structured advisory support to help SEE Holding assess market demand, affordability dynamics, regulatory frameworks, environmental and social considerations, and overall project bankability

April 24, 2026 UAE Business

ALEC Holdings’ 2025 ESG Report Highlights Strong Foundations for Sustained Leadership and Growth

ALEC Holdings achieved the Dubai Chamber ESG Label (Advanced) and the EcoVadis ‘Committed’ badge, accreditations that recognise the Group’s structured approach to sustainability and its alignment with internationally recognised ESG standards

April 24, 2026 UAE Sustainability

Dar Global appoints Al Dahlawi Company to Deliver Main Works at Amaya in Jeddah

Amaya is designed as a vibrant live-work-play destination in the heart of Jeddah, bringing together residential communities, business opportunities, retail destinations, and lifestyle amenities

April 23, 2026 Real Estate

Construction Commences On Casagrand Hermina At Dubai Islands

Dubai Islands continues to strengthen its position as a key growth corridor, supported by major infrastructure investment, improving connectivity, and rising demand for waterfront communities

April 23, 2026 UAE Real Estate

Dubai Metro Unveils USD 9 billion 'Gold Line': Which Communities Will Benefit

Serving an estimated 1.5 million residents across 15 strategic districts, the line will become the emirate's first fully integrated underground transit corridor and a critical artery for communities that have long waited for a direct metro connection

April 22, 2026 UAE Business

Modon Launches Final Phase of Tara Park on Reem Island

The development includes a 527-metre running and walking track, fully equipped gyms, yoga studios, swimming pools, and padel courts

April 22, 2026 UAE Real Estate

Nakheel Awards AED 527 million Infrastructure Contract for Island B at Dubai Islands

Island B forms a central component of the masterplan, requiring comprehensive enabling works to facilitate future vertical construction and integrated utilities networks

April 21, 2026 UAE Real Estate

MOMA International Appointed as Interior Design Consultants for Mondrian Al Marjan Island Beach Residences by ELEVATE and Ennismore

The design brief for MOMA International focuses on translating Mondrian’s globally recognised creative identity rooted in art, culture and progressive design, into a refined beachfront residential environment

April 20, 2026 UAE Real Estate

Jumeirah Burj Al Arab To Undergo Phased Restoration Programme

With a legacy of over twenty-five years of continuous operations, the conservation of the architectural landmark will see its distinctive interior décor enhanced with the same attention to detail as preserving a work of art

April 15, 2026 UAE Business