Saudi Real Estate Co. strikes a deal to purchase a 1.8 billion riyals piece of land

Saudi Arabia Al Inma Investment

Saudi Real Estate Co. has signed an agreement with Al Inma Investment in order to buy a piece of raw land north of Riyadh stretched on an area of 4.5 million square meters and it is intended to be used in the development of real estate projects.

The company announced in its own statement that the price per square meter is 400 riyals while the cost of purchase reached 1.8 billion riyals.

It is worth mentioning that the funding will be through a real estate fund licensed by the Capital Market Authority, where Al Inma Investment will fund it after obtaining the necessary approvals.