Saudi Real Estate Company (Alakaria)announced on Friday that it has awarded a 120 million Saudi riyal ($32 million) infrastructure works contract to Mohammmad Al-Ojaimi Contracting.
The company said in a stock exchange statement that the contract involves the design, approval, and construction of infrastructure for Alakaria's plots located in the Al-Qadisiyah neighborhood in Riyadh.
The scope of infrastructure works, spread over an area of 1.9 million square metres, consists of road works, paving and asphalting of streets, electricity networks, street lighting networks, telephone networks, water and firefighting networks, sewage networks, and flood drainage networks.
The statement said the project is expected to be completed in 17 months, excluding the period required to obtain the approval of the competent authorities.
(Writing by SA Kader; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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