01 March 2024

Saudi-based Al Ayuni Investment and Contracting Company has won contracts worth SR2 billion ($532 million) from Diriyah Company, a unit of Saudi sovereign wealth fund PIF, to carry out infrastructure development works within its mega development coming up in the ancient Saudi city in Riyadh.

The contract was signed by Diriyah Company Group CEO Jerry Inzerillo and Al Ayuni CEO Engineer Waleed Hamad Albathe on the sidelines of the recent Public Investment Fund and the Private Sector Forum held in Riyadh.

A ‘First Class’ contractor in Saudi Arabia since 2006, Al-Ayuni operates in several business lines including roads and bridges, railway, building, marble and mining, energy, water and power as well as real estate sectors.

Al Ayumi said it has also clinched a design-and-build contract from Roshn Group, a leading developer in the kingdom powered by PIF, for public facilities and residential units within the Alfulwa community in the Eastern Province.

Spanning a 10.8-million-sq-m area of the Al Ahsa Oasis in the Eastern Province, Alfulwa is Roshn’s fourth residential community in the kingdom. Being built near Dakhna Mountain and Al Qarah Mountain, the Alfulwa project illustrates the unique cultural and geographical heritage of the region, providing an ideal mix of urban facilities amidst the stunning nature. 

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