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Red Sea International signs SAR 53m deal with AlUla

Red Sea International signs SAR 53m deal with AlUla
The contract's revenues and profits will be realised in Q3-21
1.02% 29.75 0.30

Riyadh – Mubasher: Red Sea International Company has penned a three-month contract worth SAR 52.93 million with the Royal Commission of AlUla, according to a bourse disclosure on Wednesday.

The listed company will design, construct, supply, and install a 150-unit turnkey housing complex in AlUla, a region of natural and cultural significance in North-Western Saudi Arabia.

Red Sea International noted that revenues and profits of this contract will be realised in the third quarter (Q3) of 2021.

Last year, the Saudi listed firm inked a three-year contract worth SAR 53 million with NEOM to provide facility management, operations, and maintenance services for a residential and business complex.