Riyadh — Mubasher: Hamad Mohammed Bin Saedan Real Estate Company announced the award of a construction contract for its Dar Hamad 3 Residential Units Project to Raya Al Omran, a single-person company.
The contract is valued at SAR 13.76 million, excluding value-added tax, and was awarded on 21 July 2026.
The scope of the agreement involves the development of 32 residential units located in the Dahiyat Namar district, according to a bourse filing.
Meanwhile, Hamad Mohammed Bin Saedan Real Estate expects to formally sign the contract on 13 August 2026.
Dar Hamad 3 project is situated on a total land area of 9,600 square meters and forms part of the company's broader residential portfolio.
According to the disclosure, the project is designed to provide modern housing solutions that emphasize quality and space efficiency.
Hamad Mohammed Bin Saedan Real Estate confirmed that there are no related parties involved in this transaction.
The development aligns with the firm's strategy to establish sustainable residential communities in promising locations across the Kingdom.
Earlier in July, the listed company unveiled its board recommendation for a total cash dividend distribution of SAR 7.06 million.
