Al Akaria signs Infrastructure Packages Contracts at Qiddiya project for SAR 2.29 billion

The Saudi Real Estate Company. (Al Akaria) Announced on Monday the signing of infrastructure packages contracts between Qiddiya Investment Company (QIC) to one of its subsidiaries, “Saudi Real Estate Infrastructure Company (Binyah)” jointly with Infraroad Contracting Co. LLC.

The company will execute the construction, testing and commissioning parts of the main infrastructure networks and bridges for Qiddiya project, including parts of primary and secondary roads and utilities networks, utility culverts, pedestrian bridges and perimeter cut-off storm drainage channels, along with Design, construction, testing and commissioning of sewage treatment plant, irrigation water storage tanks & pump station, potable water storage tank & pump station and solid waste transfer hub with a total value of 2,290,259,609Saudi Riyals.

The Company said that the contract duration is 22 months, and the financial impact will be reflected in Q4 2023 until Q3 2025.

It’s worth noting that the Binyah Company is one of the national companies specialized in implementing infrastructure development works, of which the Saudi Real Estate Company (Al Akaria) owns (60%).

It specializes in constructing roads, streets, sidewalks and road supplies; constructing bridges and tunnels; laying oil and gas pipelines; constructing stations and main lines for water distribution; constructing sewage stations and projects, sewage networks and pumps; constructing port docks and marine construction, demolishing and removing buildings and others, enabling sites from (cutting, filling, Demolition & compaction) and networks extensions.