View signs SAR 122M residential tower development contract in Riyadh

View United Real Estate Development Co. signed today, Aug. 5, a SAR 122 million contract to develop a residential tower in Riyadh with Yousef Al-Hazeem.

In a statement to Tadawul, the company said the contract spans 30 months, starting from the issuance date of the off-plan sales license.

The contract aims to establish a residential real estate project and will have a financial impact on the projects under development line item during the development, execution, and sales phases.

The company expects a positive impact on revenues once sales operations commence, following the receipt of the necessary approvals and licenses.

There are no related parties to the contract, the statement added.