Saudi Real Estate Co. - ALAKARIA

Activities

Saudi Real Estate Co. is a Saudi Joint Stock Company, whose shares are publicly traded on the Saudi Stock Exchange. The Company was established pursuant to Royal Decree number M/58 dated 17 Rajab 1396H (corresponding to 15 July 1976), registered in Riyadh, Kingdom of Saudi Arabia under commercial registration No. 1010012539 dated 17 Jumada al-Alkhirah 1397H (corresponding to 4 June 1977). The Company's duration is 130 Gregorian years and it started from the date of issuing the commercial registration, it could always be extended by the unusual General Assembly resolution before the duration ends by one year. The Company is engaged in ownership of land suitable for construction and development, construction of residential and commercial buildings, for the purpose of selling or leasing out and providing project management services, purchase, production, necessary materials and equipment for construction and all related works. SRECO has played a significant role in the development of residential, commercial, and mixed-use projects across the Kingdom, i.e: Olaya I, II and III commercial centers, the Plaza and Sitteen commercial centers in Malaz, several residential units in Olaya, as well as in Diplomatic quarter (Villas, Duplex, flats).The company also implemented some projects for other parties such as Saudi Embassies in the Gulf Cooperation Council, Deira markets, Al Yamamah Press Establishment and Almuaiglia Markets. The major shareholder of the Parent Company is the Public Investments Fund (PIF) which owns 64.57% of the Company's shares, while the remaining shares, which represent 35.43%, are owned by several shareholders with less than 5% ownership.