Ash-Sharqiyah to launch subsidiary for construction projects

13/02/2025 Argaam
Logo ofAsh-Sharqiyah Development Co.

Logo of Ash-Sharqiyah Development Co.

Ash-Sharqiyah Development Co.’s board of directors approved today, Feb. 13, the executive committee’s recommendation to establish a fully owned limited liability company to implement its current and future construction projects.

 

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In a statement to Tadawul, Ash-Sharqiyah said the move aims to reduce the costs of developing ongoing projects and those of its subsidiaries, particularly in constructing and equipping warehouses in alignment with the company's operations.

 

The related financial impact will be disclosed after the company is established and begins operations, Ash-Sharqiyah added.

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