Hamad Mohammed Bin Saedan Real Estate Company has signed a SAR13.76 million ($3.66 million) construction contract with Raya Al Omran Contracting Company to develop residential units under its Dar Hamad 3 project in Riyadh.
Gulf construction remains resilient despite the Middle East conflict, but real estate developers are beginning to feel the impact as weaker investor sentiment and slowing sales weigh on the sector, S&P Global Ratings said.
