Tuesday 28 May 2024

KEC awards contracts for key mixed-use project in Madinah

MADINAH, April 15, 2024

Saudi-based Knowledge Economic City (KEC) has signed two contracts worth SAR289 million ($77 million) with Elkhereiji Commerce and Contracting Company for a key project within its mixed-use development, Al Alya, in Madinah.
One of the main projects in the KEC, Al Alya will come up on a 269,000-sq-m area in the Saudi city. 
The gated complex includes hospitality, housing, offices, retail, and education components. 
The first contract worth SAR117.5 million is for implementing all contracting work for four residential buildings, with 132 residential units of various sizes, as part of Phase One of Al Alya mixed-use project, said KEC in its filing to Saudi bourse Tadawul.
The scope of work includes implementation of electromechanical, finishing and landscaping works at premium residential buildings within the mega project, said KEC in its filing to the bourse.
The second contract worth SAR171 million will see Elkhereiji provide landscaping works for a group of eight residential buildings featuring a total of 264 units of various sizes currently being implemented as part of Phase I of Al Alya mixed-use project.
The work will begin on the project next month and will be due for completion in the first quarter of 2026.-TradeArabia News Service


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