Red Sea International lands AlUla housing complex deal
RIYADH, June 17, 2021
Saudi-based Red Sea International Company said it has secured a SR52.9-million ($14.1 million) contract from the Royal Commission of AlUla to design and build a turnkey housing complex at its upcoming cultural destination in the kingdom's northwest region of AlUla.
The scope of work includes construction of 150 modular, high-quality and fully-furnished accommodation units, Red Sea International said in its filing to the Saudi bourse Tadawul.
The work is likely to be completed within three months, it added.
Located 1,100 km from Riyadh in north-west Saudi Arabia, AlUla is a place of extraordinary natural and human heritage.
The vast area, covering 22,561 sq km, includes a lush oasis valley, towering sandstone mountains and ancient cultural heritage sites dating back thousands of years.
Once completed, it will see the establishment of five unique districts in the heart of AlUla, from Old Town in the south to Hegra Historical City in the north, each shaped by the site's natural and cultural heritage.
All the districts - AlUla Old Town; Dadan; Jabal Ikmah; Nabataean Horizon and Hegra Historical City - will each focus on an existing heritage site and will be traversed by AlUla's ancient oasis.
Under this masterplan, a 9-km portion, constituting the heart of the Cultural Oasis, will be fully rejuvenated, starting in AlUla Old Town.-TradeArabia News Service
