Al Akaria currently restructuring, undertaking giant projects: chairman

17/05/2018 Argaam

 

The Saudi Real Estate Co. (Al Akaria) is currently undergoing a revamping process and also developing large-scale projects, Al Arabiya TV has reported, citing chairman, Abdul Rahman Al Mofadhi.

 

“The company recorded sluggish performance over the past years," Al Mofadhi said, adding that a capital increase was one of the measures used to boost its financial position.

 

Al Akaria will no longer offer conventional products, but will introduce new and diversified residential, commercial and office products that address the needs of the Saudi citizens, Al Mofadhi noted.

 

The Saudi market will also witness a number of nontraditional investment opportunities over the coming period.

 

Earlier this month, Al Akaria’s board of directors recommended increasing capital from SAR 1.2 billion to SAR 2.4 billion via a 100 percent bonus share distribution, or 1-for-1.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.