Logo of Saudi Real Estate Co.

Saudi Real Estate Co. (Al Akaria) submitted, on Dec. 14, a request for capital increase via a SAR 1.593 billion rights issue to the Capital Market Authority (CMA).

 

Any updates in the matter will be announced in due course, the company said in a bourse statement.

 

Earlier this week, Al Akaria’s board of directors approved amending the recommendation on increasing capital to SAR 1.593 billion from SAR 1.6 billion, Argaam reported.

 

The capital hike is aimed to finance and implement the company's future plans and projects, and expand its various activities.

 

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