Search SaudiArabiaPR.com

Home >> Real Estate & Retail

Al Widyan Co. (SRECO) Awards SAR 1.1 billion Contract to BINYAH

Al Widyan Co. (SRECO) Awards SAR 1.1 billion Contract to BINYAH

Sunday, September 16, 2018/ Editor -  

Share

Home >> Real Estate & Retail
  • Contract is to develop infrastructure for a 7 million square metre development in the northern growth corridor of Riyadh
  • Contract is expected to generate over 2000 jobs in Saudi Arabia
RIYADH, 16 September 2018:   Al Widyan Saudi Real Estate Company (Al Widyan Co.), a private joint stock company owned by Al Akaria Saudi Real Estate Co. (SRECO), has awarded a SAR 1.1 billion contract to BINYAH to develop key infrastructure on the Al Widyan project, SRECO’s 7 million square metre site in the northern growth corridor of Riyadh.
 
BINYAH is a joint venture between SRECO and Mohammad Ali Al Swailem Group (MASCO), which own 60% and 40% of the joint venture company respectively. Binyah will be responsible for developing all of the infrastructure of the Al Widyan project.   
 
Groundworks on SRECO’s 7 million square metre site have already begun, and BINYAH will deliver community and utility buildings, roads, cabling and pipework. 
 
The scale of the project is illustrated by the scope of works under the contract, which includes 80km of roads, 275km of power supply cabling, 250km of telecoms cabling, 100km of potable water pipework and a 200km irrigation network. *notes to editors 
 
Abdulrahman Almofadhi, Chairman of the Board of Directors of SRECO said, “The project under development is a massive undertaking. We are confident that BINYAH will deliver the high-quality roads, water networks, electricity networks, sewage networks, power stations and other elements of the project to make it a success. Infrastructure delivery under BINYAH’s contract is expected to generate 2000 jobs, a large proportion of them for Saudis.” 

Previous in Real Estate & Retail

Next in Real Estate & Retail


Home >> Real Estate & Retail Section

Latest Press Release

Michael Kors to Introduce a Special-edition Whitney Handbag for the Middle East

Halloween “Catwoman” mask using BROW products

The CISI partners with King Faisal University to offer world-class financial ser ...

Burj Rafal Hotel Kempinski Launched Chinese Food Festival

The World of Aigner Wunderkammer

Makkah Millennium Hotel & Towers wins “Best 5-star Hotel” at the Arabian Travel ...

Jeddah Airport delegation applauds Dubai Customs' experience in facilitating tra ...

Brow Contour Pro 4-in-1 defining & highlighting brow pencil

World's First Female Only Trampoline Park Set to Bounce Into Riyadh

Climax Mascara Never Fake It

The FW18 Trend Report From Weill Paris

Saudi Arabia's Interior Design Market Sharpens Focus, Accounting for One Third o ...

Discover the Secret to Younger-looking, Radiant Skin

Breast Cancer Campaign in Asir Starts under Auspices of Al- Jazeera Paints Next ...

WWE ® Championship Match Set for Crown Jewel

S&P Global Ratings: Saudi Arabia 'A-/A-2' Ratings Affirmed; Outlook Stable

Dar Al-Hekma grants free scholarship to a talented student after seeing her fash ...

Ashridge to coach Saudi business leaders to explore new strategies for growth

LG and Shaker Advances their Air Conditioning Academy In Saudi Arabia

Registration open for the 4th MITEF Saudi Startup Competition