The Royal Riyadh Resort and Residences ... part of Al Widyan.
$293m deal for Al Widyan work
01 October 2018
Saudi Real Estate for Infrastructure Company (Binyah) has won a SR1.1-billion ($293 million) infrastructure contract from the kingdom’s leading developer Al Akaria Saudi Real Estate (Sreco) for its giant Al Widyan project near capital Riyadh.
As per the deal, Binyah, a company 60 per cent owned by Sreco, will build roads and landscaping and provide water, electricity, communications and irrigation networks, the Saudi company said.
The scope of work includes development of 80 km of roads, 275 km of power supply cabling, 250 km of telecommunication cabling, 100 km of potable water pipework and a 200-km irrigation network, it stated.
Sreco chairman Abdulrahman Almofadhi said: “The project under development is a massive undertaking. We are confident that Binyah will deliver the high-quality roads, water networks, electricity networks, sewage networks, power stations and other elements of the project to make it a success.”
“Infrastructure delivery under Binyah’s contract is expected to generate 2,000 jobs, a large proportion of them for Saudis,” he added.
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