Knowledge Economic City Announces the Signing of the Infrastructure Work Contract of Al-Alyaa Suburb with Musaad Al-Mutairi and Partner Company
| Element List | Explanation |
|---|---|
| Introduction | In accordance with the ambitious development plan and iconic projects that were launched under the patronage of His Royal Highness Prince Faisal bin Salman bin Abdulaziz Al Saud, Governor of Al-Madinah Al-Munawwarah in April 2021 which were announced on Tadawul website, the Knowledge Economic City Company is pleased to announce that it has signed a contract with Mussad Al-Mutairi & Partner Company for the implementation of the infrastructure works for Al Alyaa residential project within the Knowledge Economic City (KEC). |
| Date of Announcement of the Award | 2021-06-29 Corresponding to 1442-11-19 |
| Contract Subject Matter | Executing important infrastructure works such as road networks, water, irrigation, sewage, firefighting and lighting, in addition to linking them to the smart infrastructure implemented in the project area. |
| Date of Signing the Contract | 2021-06-29 Corresponding to 1442-11-19 |
| Contract Value | SAR 34,860,765 |
| Contract Details | Implementation of the internal infrastructure works for Al-Alyaa suburb in the northern area of the Knowledge Economic City. |
| Contract Duration | 12months starting July 2021 |
| Financial Impact and the Relevant Period | The contractor will be paid in installments per monthly invoice based on work progress and executed work. Accordingly, the period on which the financial impact takes place is distributed over a period of 12 months starting from end of July 2021. The company shall cover the contract cost from its available cash. |
| Related Parties | No related party among contract parties |
| Additional Information | The Northern Suburb Project (Al-Alyaa) aims to complement the development of the northern area overlooking the 40 meters wide Safwan Street. The project area is 269,000 square meters divided into plots of different sizes meant to offer buildings with 6 stories specially designed to respond to the new urban trend in Madinah “Humanization of Cities", providing green areas and pedestrian paths in order to create an attractive quality lifestyle. The area of the landscaping and pathways is 72,000 square meters with the length of the green project's main path 1,100 meters long with width ranges between 16 to 82 meters. The land plots have been designed in a series of corridors and wide roads, with a park in the middle spanning approximately 60,000 square meters, separating the movement of cars and pedestrian; organizing the traffic in the places designated to encourage walking, as well as allowing full access for people of determination. Attention to relevant details in planning the development of the sidewalks, their lighting and landscaping has been taken care off.
As part of the project preparations, the company assigned the supervision of infrastructure works to a distinguished consultant to ensure the quality of work implementation. Also, the company has assigned an accredited consultant to review project’s masterplan and ensure the required technical and engineering standards were followed as per the Special Economic Cities and Zones Authority technical and engineering requirements. |
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