Logo ofSaudi Real Estate Co. (Al Akaria)
Saudi Real Estate Co. (Al Akaria) signed today, April 14, an integrated facilities management contract for all its residential and commercial assets in Riyadh with Saudi-Korean Company for Maintenance and Properties Management (MUMTALAKAT), in which it holds a 60% stake, the company said in a statement to Tadawul. 
The 12-month contract, valued at approximately SAR 50.12 million excluding VAT, covers integrated facilities management services across all facilities in the capital.
Saudi Real Estate said the financial impact is expected to appear starting from Q1 2026 results.
The company also noted the presence of a related party, as Abdulmuhsin Albakr, chief development officer (CDO) at Al Akaria., holds an indirect board membership in MUMTALAKAT.
Logo ofSaudi Real Estate Co. (Al Akaria)
Saudi Real Estate Co. (Al Akaria) signed today, April 14, an integrated facilities management contract for all its residential and commercial assets in Riyadh with Saudi-Korean Company for Maintenance and Properties Management (MUMTALAKAT), in which it holds a 60% stake, the company said in a statement to Tadawul.
The 12-month contract, valued at approximately SAR 50.12 million excluding VAT, covers integrated facilities management services across all facilities in the capital.
Saudi Real Estate said the financial impact is expected to appear starting from Q1 2026 results.
The company also noted the presence of a related party, as Abdulmuhsin Albakr, chief development officer (CDO) at Al Akaria., holds an indirect board membership in MUMTALAKAT.
