Dar Al -Majid Real Estate Company (Al -Majidiya) announced the signing of two contracts with the Tatuna Contracting Company to implement the work of the “Adem Al -Fursan” housing project in Riyadh and the “Khayala 1” housing project in Jeddah, at a value of 453.61 million riyals (not comprehensive value -added tax).
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The company said in two separate statements to Tadawul, that the two decades period is 36 months, as the value of the “Adim Al -Fursan” housing project reached one of the company’s projects with the National Housing Company, which is one of the projects of sales on the map, and includes the establishment of 540 villas and town House 298.13 million riyals, while the value of the “Khaya 1” project is one of the sale projects on the map with the National Housing Company, and includes the establishment of 528 housing units 155.48 million riyals.
She added that the implementation of the Adem Al -Fursan project will be according to the highest technical and engineering standards, including civil works, infrastructure works, finishes, electricity and mechanics work, while adhering to the approved implementation schedules, while the implementation of the “Khayala 1” housing project, civil, construction work, infrastructure work, finishing, and mechanical and electrical services work.
She pointed out that the positive financial impact of these two projects will be reflected from the third quarter of the year 2025.
She stated that these two decades come within the framework of the company’s commitment to its expansion plans in developing qualitative housing projects that are in line with the vision of the Kingdom’s 2030 vision and meet the needs of the real estate market. The scope of the contract includes construction work, infrastructure and all executive work according to the approved specifications.
