Latest news with #AsasMakeen
Zawya
22-07-2025
- Business
- Zawya
Asas Makeen awards $27mln contract for new Riyadh housing project
Saudi-listed Asas Makeen for Real Estate Development and Investment Co. has signed a 99.72 million Saudi riyal ($26.58 million) contract to build a residential project in Riyadh. The contract was awarded to Qemat Hattaba Real Estate Co., the company said in a statement to the Saudi Stock Exchange. The 18-month contract includes the construction of a residential project spanning 19,590 sq m of land area, featuring 230 units, in the Al-Naseem district. The deal is expected to positively impact Asas Makeen's results starting from the fourth quarter of 2025, the statement said. (Editing by Anoop Menon) (
Argaam
21-07-2025
- Business
- Argaam
Asas Makeen pens SAR 99.7M contract for Riyadh residential project
Asas Makeen for Real Estate Development & Investment Co. signed a contract worth SAR 99.72 million (VAT included) with Qemat Hattaba Real Estate Co. to implement a residential project in Al-Naseem District, Riyadh. In a statement to Tadawul today, July 21, the company said the 18-month contract entails implementing a residential project on a land area of 19,590 square meters. The project includes the development of 230 residential units, incoporating the highest standards of quality and urban integration. The company also highlighted that this step aligns with its strategic direction to expand within the real estate development sector. This is by delivering high-quality projects that meet the Saudi market's needs, while also scaling up local residential offerings. The contract is expected to positively impact Asas Makeen's results starting from the fourth quarter of 2025.
Zawya
24-06-2025
- Business
- Zawya
Asas Makeen, Kuwait's Securities House to boost Saudi Arabia's real estate sector
Riyadh - Asas Makeen Real Estate Development and Investment Company signed a memorandum of understanding (MoU) with The Securities House, a Kuwaiti public joint stock company listed on Boursa Kuwait. The MoU, signed on 22 June 2025, supports Asas Makeen's objectives to expand its business scope and enhance cooperation in real estate development across Saudi Arabia. Under the agreement, the two parties will identify and execute investment opportunities in strategic projects and develop real estate products that meet evolving market needs and trends. In line with the objectives of Saudi Vision 2030, the memorandum is valid for one year and will be automatically renewed thereafter. Earlier on 16 June, Asas Makeen signed a SAR 240 million agreement with the National Housing Company (NHC) to develop the Tali'at Al-Mashraqiyah project in eastern Riyadh. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
16-06-2025
- Business
- Zawya
Asas Makeen bags $64mln construction contract from NHC for Riyadh project
Asas Makeen Real Estate Development and Investment Company has signed an agreement with the state-run National Housing Company (NHC) to develop portions of Al-Mashraqiyah housing project in east Riyadh. The company will execute the superstructure works for the construction of 470 residential units in the 'Tali' phase of the master community at the cost of 240 million Saudi riyals ($63.94 million), the Nomu-listed firm said in a statement on Monday. The phase covers a total area of nearly 71,178 square metres (sqm). The contract, which is scheduled to be completed in 42 months, will have a positive financial impact from the fourth quarter of 2025, the statement said. (Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Zawya
13-06-2025
- Business
- Zawya
Asas Makeen to float shares on Nomu next week
Riyadh: Asas Makeen Real Estate Development and Investment Company is scheduled to commence listing its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) on Monday, 16 June 2025. Asas Makeen will float 1 million shares, accounting for 10% of its share capital, under the symbol 9640, according to a bourse disclosure. Tadawul pointed out that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively. The Capital Market Authority (CMA) greenlighted the company's Nomu listing in January.
