Sasharq Terminates Its Mousavi Ghouchani Project Partnership Contract With Astan Quds Razavi

The Northeast Housing Investment Company (symbol: Sasharq) announced in a Group A disclosure filed on Codal on Wednesday, 7 October 2026, that it has terminated its partnership contract with Astan Quds Razavi for building the Mousavi Ghouchani project. The contract, number 288341 dated 13 October 2021, carried a stated value of 20,210,420 million rials (about 20.2 trillion rials); the termination date is recorded as 7 October 2026.

The company wrote that the per-capita land share for the partnership site had not been settled with the Mashhad District 2 municipality and that no building permit had been issued. After consultation, and given rising inflation in construction material prices, the board judged that continuing the contract was not worthwhile economically. The parties' obligations after termination are set out in the full Codal notice.