Saudi Arabia’s Red Sea International Company has acquired a prime plot of land in Madinah, allowing a 50-year lease agreement with the Al Madinah Al Munawwarah Municipality for a mixed-use development project to take effect.
The land had been handed over and all procedures to approve the investment contract had been completed through the government’s Furas platform, said Red Sea International Company in its filing to Saudi bourse Tadawul.
The lease covers a 63,088sqm site at the intersection of Omar Bin Al-Khattab Road and Abdul Harith Bin Zaid Al-Dhabi Road in Madinah, where the company plans to construct, operate and maintain a mixed-use development.
The contract, signed on 1 July has a total lease value of US $43.2mn, it added.
Hence then, the article about red sea acquires land in madinah for mixed use project was published today ( ) and is available on ME CONSTRUCTION NEWS ( United Arab Emirates ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Red Sea acquires land in Madinah for mixed-use project )
Also on site :
- Harry Kane loses his voice in hilarious post-match interview at the Azteca - but Jordan Henderson is taken away on a stretcher
- Mexico vs England - World Cup LIVE: 10-man Three Lions sweating as hosts get back to 3-2 with Harry Kane giving away a penalty - just after scoring and following Jude Bellingham double
- Manhunt is launched for father, 31, who 'killed his daughter in crash while drink driving' after he failed to show up at court