Saudi-based Asas Makeen Real Estate Development and Investment Company has signed up Itihad Al Thabat Contracting to execute and complete the construction and finishing works required for a number of residential and commercial projects being developed by the company in Riyadh.
Saudi real estate developer Asas Makeen said it had signed an agreement with a fund managed by BLOM Invest Saudi Arabia to develop a 290-unit residential project on a 16,621-sq-m area within the Al Narjis district in Riyadh. The entire work will be completed in 18 months.
Saudi-based First Avenue for Real Estate Development Company has signed an addendum to its contract with Asas Makeen Real Estate for a key residential project in Al Hada District. Following the completion of the detailed designs and technical specifications, the project cost has been set at SAR86 million ($22.9 million).
