Saudi Real Estate Company (Al Akaria) has announced that 94% of construction work has been completed on its Al Dahya development, a key residential project featuring 567 villas and other key amenities, including mosques and a schools complex for girls and boys, located within Al Rimal district, which is in the east of Riyadh, the Saudi capital.

In a filing to Tadawul, the developer said progress has been steady on the project, with work in full swing on the 430,296sqm project, which is due to be handed over next month.

It added that contracts to sell around 54% of the residential units have already been signed, with delivery procedures already begun for Phase One. The sale of the project’s Phase Two has also been launched recently.

Contracting work on the project is being handled by its key subsidiary Saudi Real Estate Construction Company (Tamear).

Last year, Al Akaria announced the signing of a partnership agreement with the National Housing Company to help facilitate the Saudi Ministry of Housing’s beneficiaries of the ownership in Al Dahia residential project.