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Saudi Real Estate Co. Announces Contract Sign Off with Diriyah Gate Development Authority

ALAKARIA 4020 -0.50% 11.90 -0.06
Element List Explanation
Introduction Saudi Real Estate Infrastructure Company (Binyah) has signed a contract with Diriyah Gate Development Authority to carry out Wadi Hanifa's infrastructure work with Diriyah Development Authority, as the project includes the implementation of road works, water and sewage networks, rainwater drainage, irrigation, street lighting and related works with a total amount of SR432,063,610.94
Date of Announcement of the Award 2021-10-13 Corresponding to 1443-03-07
Contract Subject Matter Infrastructure works for Wadi Hanifa
Date of Signing the Contract 2021-10-13 Corresponding to 1443-03-07
Contract Value 432,063,610.94 SR
Contract Details Carry out Wadi Hanifa's infrastructure work with Diriyah Development Authority, as the project includes the implementation of road works, water and sewage networks, rainwater drainage, irrigation, street lighting and related works
Contract Duration 478 Days
Financial Impact and the Relevant Period The Financial Impact of the project will be reflected through out Q4 of 2021 and 2022
Related Parties Saudi Real Estate Company,

Diriyah Development Authority

Additional Information Binyah Company is one of the national companies that is specialized in carrying infrastructure development works, of which the Saudi Real Estate Company owns (60%). Which specializes in road works, bridges, tunnels, construction and extension of water and sewage networks, construction and extension of transmission and power distribution networks, electricity and telecommunication systems, construction of public gardens, parks, irrigation networks and its revitalization, construction of dams, and manufacturing and selling ready-made and precast concrete for infrastructure works.

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