Asas Makeen Real Estate Development and Investment Company signed a partnership agreement with Al Rajhi Real Estate Investment and Development Company to develop a modern residential project in the Andalusia neighborhood in Riyadh, with an investment value of one billion Saudi riyals.<br /> <br /> The agreement was signed under the auspices of the Ministry of Municipalities and Housing, and in the presence of His Excellency the Undersecretary of the Ministry, Mr. Abdul Rahman Al-Tawil, emphasizing the importance of the project in supporting the urban development and enhancing quality of life in the capital.<br /> <br /> The project spans 17,800 square meters, with a total built-up area of approximately 137,000 square meters, comprising 665 residential units distributed across 20 residential towers, to be one of the prominent residential projects that provide an integrated environment and meet the aspirations of residents with modern standards. The project is strategically located just 100 meters from the metro station, offering smart mobility options and contributing to a fully integrated modern living environment, in alignment with Saudi Vision 2030's goals for developing sustainable residential communities.<br /> <br /> In this regard, Asas Makeen has expressed its commitment to developing integrated urban communities that align with real estate market developments by delivering high-quality and innovatively designed residential investments. The company affirmed that this project would be a significant addition to sustainable urban development in Riyadh.
We are pleased to announce that Saudi Tadawul has confirmed the listing and commencement of trading for Asas Makeen Real Estate Development and Investment Company on the Parallel Market “Nomu”, starting on Monday, June 16, 2025, under the trading symbol 9640.
Asas Makeen Real Estate Development and Investment Company congratulates you on the occasion of Eid Al-Adha. May you have a blessed year.
A day worthy of its virtues being perfumed with supplications on our tongues
In an achievement that reflects investor confidence and reinforces leadership and excellence, Asas Makeen recorded an exceptional oversubscription on the Nomu Parallel Market, reaching 1949% with a total value exceeding SAR 1.59 billion. At Asas Makeen, we are rewriting the numbers with your trust to meet your aspirations.
Asas Makeen Real Estate Development and Investment Company announces the offering of one million shares, representing 10% of its capital, on the Parallel Market “Nomu” at a price of 80 SAR per share.<br /> <br /> The offering will take place from May 19 to May 25, 2025. This IPO follows a track record of achievements, during which the company has executed over 80 diverse projects since its inception and achieved profits of 108 million SAR by the end of 2024 a 59% increase compared to 2023.<br /> <br /> The Sharia Committee, after reviewing the company’s documents and transactions, has stated that there is no religious objection to subscribing to or investing in the company’s shares. This move represents an exceptional opportunity for those interested in investing in the Saudi real estate sector and contributing to its ongoing growth journey.