Al Akaria signs SAR 425M contract for Fai Sedra II residential complex

Saudi Real Estate Co. (Al Akaria) signed a 730-day contract with Rezik Abdullah Saeed Algedrawy Al-Thubaiti & Partners Co. Ltd. to develop the Fai Sedra II residential complex project located in the Sedra, Roshn district in Riyadh.

The contract is valued at SAR 425 million (excluding VAT), Al Akaria said in a Tadawul statement.

Under the contract, Al Akaria will undertake civil, structural, architectural, electromechanical, and external works for the complex, comprising a total of 310 variable-sized villas spanning 250 to 450 square meters (sqm), on a land area of 92,450 sqm.

Al Akaria expects the relevant financial impact to appear from Q4 2025.

According to Argaam data, the company had recently awarded the Fai Sedra II project to Rezik Abdullah Saeed Algedrawy under a SAR 425 million contract.