Al Akaria’s Binyah signs SAR 660.4M contract for Green Riyadh

Saudi Real Estate Co. (Al Akaria) announced that its subsidiary Saudi Real Estate Infrastructure Co. (Binyah), signed on Oct. 20, a contract for the treated sewage effluent (TSE) network for the Green Riyadh Program - Group 11 with the Royal Commission for Riyadh City (RCRC).

According to a statement on Tadawul, the contract is valued at SAR 660.36 million, including value-added tax (VAT).

The 20-month contract is expected to impact the financial results from Q4 2024 until Q2 2026.

Last September, the contract was awarded to Binyah, a national company specializing in infrastructure development, with Al Akaria owning 60% of its shares, Argaam earlier reported.