Al Akaria ends MoU for villa project with Al Tahaluf Real Estate
- Source
- Argaam - Company Disclosures
- Source link
- https://www.argaam.com/en/article/articledetail/id/1927298
- Published
- 2026-08-09 10:43:00
- Discovered by ProcIntel
- 2026-08-09 13:52:34
- Category
- Supplier Risk
- Geography
- Saudi Arabia, UAE
- Organisations
- —
- Review status
- Pending
- Record type
- REAL
Summary
<p ><img src="https://argaamplus.s3.amazonaws.com/4a057c36-aceb-43a7-8711-d8ea7b0a955a.png" ></p> <p class="ckeCaption" >Logo ofSaudi Real Estate Co. (Al Akaria)</p> <hr> <p >Saudi Real Estate Co. (<a href="https://www.argaam.com/en/tadawul/tasi/alakaria" target="_blank">Al Akaria</a>) decided, on Aug. 6, to mutually terminate the memorandum of understanding (MoU) with Al Tahaluf Real Estate Co. for the development of a residential villa project within the Al Akaria Park masterplan, according to a statement to <strong>Tadawul</strong>.</p> <p ></p> <p >The company explained that the termination was carried out in accordance with the terms of the agreement and based on subparagraph (a) of paragraph (1) of article 15.2, following the failure to fulfill the conditions precedent within the period specified in the agreement.</p> <p ></p> <p >Al Akaria added that it will bear SAR 1.12 million in pre-establishment expenses, while Al-Tahaluf Real Estate will bear an equal amount, with the expenses shared equally between the two parties at 50% each.</p> <p ></p> <p >In May 2023, Al Akaria signed the partnership agreement with Al-Tahaluf Real Estate to develop <a href="https://www.argaam.com/en/disclosures/projects/details/projectid/1286" target="_blank">a residential villa project</a> within the company-owned Al Akaria Park masterplan, <span ><strong>Argaam</strong></span> data showed.</p>
Procurement Relevance Gate
- geographic_exposure (weight 8) — matched on "2 linked geographies"
Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Not Assessed — this Signal did not pass the Procurement Relevance Gate, or is fictional/excluded test data.