Riyadh – Mubasher: National Building and Marketing Company inked, on 4 June 2024, a SAR 350 million agreement with Al Fayzia Real Estate Development Company.
The two entities will team up to develop villas and residential apartments (Granada Riyadh Project), according to a bourse statement.
The three-year deal will cover the infrastructure and superstructure works, construction, finish, and building materials for the development project.
Meanwhile, the residential units will be established with specifications that do not conflict with those of the Saudi Building Code and the Ministry of Housing.
National Building highlighted that the project will reflect on its business results during the second half (H2) of 2024 and the coming years during the project completion period.
Last April, the Tadawul-listed company renewed its SAR 85 million facility agreement with Alinma Bank.
