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Al Akaria to launch new Alwadian Saudi Real Estate Company

Saudi Arabia - July 15, 2018
Riyadh Skyline

Riyadh–based Saudi Real Estate Company, Al Akaria has announced that the Ministry of Commerce and Investment has issued a decree permitting the company to launch a new closed joint stock company under the name of Alwadian Saudi Real Estate Company.

The capital of the new company will be SAR 1 billion divided into 100 million shares, according to a filing to the Saudi Stock Exchange (Tadawul).

The company added in a statement that headquarters of Alwadian Real Estate Company is planned to be in the capital, Riyadh.

For its first project, the new company will develop Alwadian Project on 7 million square meters land in Al Malqa district in Riyadh.

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