ZAWYA: Saudi’s Asas Makeen discloses $26.35mln as main contract value for Al Hada Promenade project

About this update from Asas Makeen Real Estate Development And Investment Company

Staff WriterSaudi-listed Asas Makeen Real Estate Development and Investment Co. announced on Monday that it has signed an addendum to its construction contract with Al Jada Al Oula Real Estate Development Company for the Al Hada Promenade residential project in Riyadh.Under the revised agreement, the estimated contract value has been set at 98,756,250 Saudi riyals ($26.3 million), inclusive of value added tax (VAT).The company said the addendum follows completion of final engineering designs and receipt of required regulatory approvalsAsas Makeen had originally signed the construction contract for the project with Al Jada Al Oula in July 2025.(Editing by Anoop Menon) ([email protected])Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

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