Al Akaria signs deal to develop Sidrat AlUla project

Saudi Real Estate Co. (Al Akaria) signed on Feb. 25, a 5-year contract with the Royal Commission for AlUla and AlUla Development Co., to develop the Sidrat AlUla project in AlUla Governorate, the company said in a statement to Tadawul.

The 260,230-square-meter (sqm) project will feature 810 residential units (570 apartments as well as 240 villas), in addition to other real estate options, including commercial and retail spaces with a total area of 36,760 sqm, complemented with many services and green areas.

Al Akaria will determine the relevant total development costs in 120 days from the date of the contract signing, the statement added.