Logo of View United Real Estate Development Co
View United Real Estate Development Co. signed a contract with Al-Shams Holding Co. to develop and sell a residential complex in Riyadh for SAR 110 million.
In a Tadawul statement, the Nomu-listed company said the contract’s term is 16 years from the date of starting the construction work.
The scope of work entails the comprehensive development of Al-Shams Holding’s project in Al-Quds neighborhood, Riyadh, covering a total area of 8,268 square meters (sqm). The project will include residential units consisting of villas, floors, and apartments, with a built-up area of 13,800 sqm.
The project will have a financial impact on View United’s projects under implementation during the development, implementation and sale periods, the statement added, expecting a positive impact on revenues immediately after the start of implementation works after obtaining the necessary approvals and licenses.
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