Riyadh - Mubasher: Saudi Real Estate Company (Al Akaria) leased the Al Reef Residential Compound for a total value of SAR 1.19 billion on 18 February 2026, according to a bourse filing.
Located in the Diplomatic Quarter in Riyadh, the compound comprises 240 residential units, including 176 apartments and 64 villas and townhouses, in addition to a commercial showroom.
The 20-year lease agreement is expected to support the growth of the company’s operations and profitability.
It will reflect positively on the financial results starting from the fourth quarter (Q4) of 2026.
Last month, Al Akaria appointed Abdullah bin Sulaiman Abu Dawood as its CEO as of 5 April 2026.
