Al Akaria licensed to sell off-plan for SEDRA Masterplan project

24/01/2024 Argaam
Logo ofSaudi Real Estate Co. (Al Akaria)

Logo of Saudi Real Estate Co. (Al Akaria)

Saudi Real Estate Co. (Al Akaria) announced it obtained, on Jan. 23, a license to sell off-plan for SEDRA Masterplan community project in the northeastern of Riyadh, according to a statement to Tadawul.

 

Al Akaria signed, in June 2022, a conditional purchase agreement with a development obligation with ROSHN Real Estate Co. worth SAR 141.98 million (exclusive of the Real Estate Transaction Tax (RETT)), data available to Argaam showed.

 

It involves 155 residential plots with a total area of 44,368 square meters within package K1 and K2 of SEDRA Masterplan Community, the company added, noting that the deal will be funded through its internal financial resources and Wafi Program for off-plan sales.

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