Riyadh Development Company (ARDCO) is a Saudi joint-stock company operating in the field of BOT-based building, operation, and management of public benefit and service projects in partnership with the state. It is listed on the Saudi Stock Exchange under number 4150 and the name "ARDCO." Its shares are traded on the main market within the Real Estate Management and Development sector.
The company was established under Royal Decree No. (M/2), decreed in 2003, as a Saudi joint-stock company. It operates within two parallel paths, one relating to the building, operation, and management of public benefit and service projects in partnership with the state. In this respect, the company successfully established and managed several service projects that employ qualified national staff consisting of more than two hundred employees. These projects serve more than two thousand customers and tenants as well as more than twenty million citizens and residents. These projects include al-Taamir Wholesale Market for Fruits and Vegetables in Riyadh, al-Taamir Public Transportation Center in Riyadh, al-Taamir International Car Auction in Riyadh, and al-Taamir Market for Meat, Vegetables, and Fish in al-Batha.
The second path in which the company operates is "residential and commercial" real estate project investment. These activities resulted in offering real estate products that are aligned with the Riyadh development programs. These products include the construction and development of five large projects: al-Taamir Technical Services City, al-Taamir Wholesale Center, Taamir al-Riyadh Market, Tilal al-Taamir blueprints, and Modon Shuruq al-Taamir.
The company's projects are varied in terms of planning and building model residential neighborhoods. It adopts a policy for diversifying investments upon adding the option of vertical investments to properties. In this respect, buildable lands would be acquired, planned, and developed, ultimately constructing residential, commercial, and office buildings thereon for sale or lease. Hence, the company would be pioneering the development of the capital's downtown upon adopting a new investment and economic vision.
The company's fields of work include managing development projects, granting citizens the opportunity to take part in them, building, selling, or leasing residential complexes, constructing and investing in commercial, office, and residential buildings and facilities, such as parking lots, in Qasr al-Hukm area, among others, establishing, leasing, or selling commercial and industrial exhibition spaces, or managing them, and establishing, leasing, or selling public parks and tourist complexes.
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