Riyadh – Mubasher: Alandalus Property Company on Sunday revealed the latest updates regarding its current and upcoming projects.
For its jointly-owned hospital with Sulaiman Al Habib Medical Group, a plot of land was divided and allocated to start the hospital’s construction process.
The project would not have financial impact at this stage, according to the company’s statement on the Saudi Stock Exchange (Tadawul).
As for its jointly-owned shopping mall project with Mohammed Abdulaziz Al-Rajhi & Sons Investment Co., a rental agreement was signed with a main tenant and the company is going through the official procedures to get the final license for the mall, the company said.
Construction on the project, which will start by the end of 2016, is scheduled to be finalised in Q4-17, with its commercial operations are expected to start in Q1-18.
Working along with El-Habib Company on the Panorama Jeddah project is still in the stage of redesign, while construction works and obtaining the required permits are expected to start during Q4-17 and end in Q4-20. No financial impact is seen possible, the statement showed.
