Al Akaria says COVID-19 measures might impact leasing business

14/04/2020 Argaam

 

Saudi Real Estate Co. (Al Akaria) said that the government’s precautionary measures to contain the coronavirus outbreak might impact its leasing segment. 

 

The company added in a bourse filing on Tuesday that the measures will also impact the business of subsidiaries in the contracting, infrastructure, operating and maintenance sectors.

 

It is presently difficult to assess the financial impact of the measures, the developer said, noting the temporary measures will not impact the company’s future business and plans.

 

Any future developments related to the matter will be announced in due course.

 

On the private sector’s support packages, Al Akaria said it is working closely with relevant authorities to identify the support mechanism and feasibility.

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