Saudi Real Estate Co. (“Al-Akaria”) announces that the Development Management Agreement of Sidrat Alula Project with the Royal Commission for AlUla and AlUla Development Company has been executed.
Development of Sidrat AlUla Project land, measuring 260,233,23 sqm, which will offer varied residential units of 810 units in total (570 apartment units and 240 villas and townhouses).
The Masterplan includes commercial and retail spaces of approximately 36,760 sqm/GFA, in addition to green parks and other supporting facilities.
Total development cost will be determined by the company within 120 days starting from the execution date of the Development Management Agreement with the Royal Commission for AlUla and AlUla Development Company.
The Company will be responsible for streamlining and managing all development, sales and marketing activities for Sidrat Alula Masterplan, statement mentioned.
