Riyadh — Mubasher: Hamad Mohammed Bin Saidan Real Estate Company announced the award of a construction contract for its HS Residences 2 project to Abaad Al Me’mar Contracting, according to a bourse filing.
The contract is valued at SAR 19.78 million excluding value-added tax and covers the development of 60 residential units in the Al Arid district of Riyadh.
The project is situated on a total land area of 6,030 square meters.
According to Hamad Mohammed Bin Saedan Real Estate, the development is designed to provide modern residential units that prioritize quality, privacy, and space efficiency as part of its strategy to develop sustainable communities.
The award was finalized on 4 August 2026, with the formal contract signing expected to take place on 6 September 2026.
Hamad Mohammed Bin Saedan Real Estate confirmed there are no related parties involved in the transaction, noting that this project represents a continuation of the firm's residential portfolio expansion in promising urban locations.
In July 2026, the listed real estate developer unveiled the details of nearly SAR 14 million contract.
