| Introduction | Saudi Real Estate Company (“ Al-Akaria” or the “Company”) announces the signing of an integrated facilities management services contract for all of its residential and commercial properties in Riyadh with Saudi-Korean Company for Maintenance and Properties Management (“Mumtalakat”), a 60%-owned subsidiary of the Company, for a total value of (50,116,121) SAR (excluding tax). |
| Date of Announcement of the Award | 2026-03-30 Corresponding to 1447-10-11 |
| Contract Subject Matter | Integrated facilities management services |
| The Entity with Which the Contract was Signed | Saudi-Korean Company for Maintenance and Properties Management (Mumtalakat) |
| Date of Signing the Contract | 2026-04-14 Corresponding to 1447-10-26 |
| Contract Value | For a total value of SAR 50,116,121 (excluding tax). |
| Contract Details | Mumtalakat provides integrated facilities management services for all residential and commercial properties of Saudi Real Estate Company in Riyadh. |
| Contract Duration | The term of the contract is 12 months. |
| Financial Impact and the Relevant Period | The financial impact will appear on the financial statements starting from the First quarter of 2026 |
| Related Parties | Eng. Abdulmuhsin Albakr, Chief Real Estate Development Officer at Al- Akaria , in his capacity as a member of the Board of Directors of Saudi-Korean Company for Maintenance and Properties Management, has an indirect interest. |
