Saudi Real Estate Company (Al Akaria) Signs $90.3 million Contract to Develop “Al-Narjis Business Park” in Riyadh

Saudi Real Estate Co “Al-Akaria” has announced the signing of a contract with The Saudi Real Estate Construction Company “Tamear” to develop “Al-Narjis Business Park” project in Al-Narjis district in Riyadh.

The total value of the contract is SAR 338,784,971 (excluding VAT). The project aims to establish an integrated destination for business and premium experiences, combining modern office spaces, restaurants, outdoor plazas, and landscaped green areas.

The project aligns with the company’s strategic expansion into the commercial sector, aiming to provide a contemporary work environment that reflects the aspirations of businesses and entrepreneurs. The scope of work encompasses all civil, construction, architectural, mechanical, electrical, and external works, executed according to the highest standards.

On his part, the Acting CEO of Al-Akaria, Mr. Khalid Alsehaibany, praised this strategic step, stating: “This project translates our commitment to delivering integrated environments that support the business sector and align with the Kingdom of Saudi Arabia’s ambitions in elevating Riyadh to a global economic hub.”

It is worth mentioning that this project adds to a series of distinguished real estate initiatives launched by Al Akaria, reflecting its leading position in the Saudi market and supporting the growth of the real estate sector. Upon completion, the development is expected to represent a significant addition to the capital’s business landscape and serve as an attractive destination for companies across various sectors.