Al Akaria awards key Saudi infrastructure development contract
RIYADH, February 12, 2022
Saudi Real Estate Company (Al Akaria) has signed up Al Ojaimi Contracting Group to execute the design and implementation of infrastructure works for its land plots in the capital Riyadh.
As per the SR119.80 million ($31.9 million) contract, Al Ojaimi will develop the 1.91-million-sq-m plot located in Al Qadisiyah neighbourhood, stated Al Akaria in its filing to Saudi bourse Tadawul.
The contract will be implemented in 17 months, it stated.
The scope of work includes road works, paving and asphalting of streets, electricity networks, street lighting networks, telephone networks, water and firefighting networks, sewage networks, and flood drainage networks, it added.-TradeArabia News Service
