Saudi Real Estate Company (Al Akaria) has awarded a 192 million Saudi riyals ($51.19 million) contract to Rezaik Algedrawy for Contracting Company for the construction of the residential complex - Fai Sedra 1 - in ROSHN’s Sedra district in Riyadh.
  
The work scope includes the execution of civil, structural, architectural, and electromechanical works for Fai Sedra 1, as well as the completion, maintenance, and remedy of any defects, the developer said in a statement to the Saudi stock exchange.
 
The contract duration is 24 months.
 
The Fai Sedra 1 project includes 135 villas on a land area of 43,468 square meters.

Earlier this month, Al Akaria subsidiary, Saudi Real Estate Infrastructure Company (Binyah), won a 532.05 million Saudi riyal ($144.87 million) contract from Diriyah Gate Company Limited.

(Writing by D Madhura; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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