The Minister of Commerce and Industry, Hashim bin Abdullah Yamani has approved establishment of a Real Estate Company with a capital of SR2 billion.
The capital is divided into 40,000,000 shares and the value of each share is SR50.
The founders of the company have already paid the total capital of the Riyadh-based company.
The company will be managed by a board of directors comprising five members to be appointed by the company's general assembly for a period of three years.
The period of the first board of directors will be five years.
