Saudi Real Estate Co. (“Al-Akaria”) announced in a statement that it has executed a Memorandum of Understanding (MOU) with the Royal Commission for AlUla and AlUla Development Company to develop Sidrat Alula Project land located in AlUla.

The MOU is related to the Development of Sidrat Alula Project land, measuring 260,233,23 sqm, which shall offer varied residential units of 804 units in total (564 apartment units and 240 villas and townhouses).

The Masterplan shall offer other component mix including commercial and retail space, approximately 25,000 sqm/GFA, along with other supporting facilities, amenities, and green parks.