Al-Akaria signs contract for excavation of three metro stations at SAR 722 million

Saudi Real Estate Co. (“Al-Akaria”) has announced the signing of a contract with Diriyah Gate Company Limited (DGCL) for the implementation of “Excavation for Metro-Box Central, Metro-Box South, and Metro-Box East and Related Works,” through one of its subsidiaries, Saudi Real Estate Infrastructure Company (Binyah), at a value of SAR 722 million.

The company stated that contract spans a duration of 1,276 calendar days, and it expects the financial impact to appear on the financial statements starting from the first quarter of 2024

This development follows the company’s announcement regarding the awarding of a contract for the implementation of “Excavation for Metro-Box Central, Metro-Box South and Metro-Box East and Related Works” with the Diriyah Gate Company Limited (DGCL) to one of its subsidiaries “Saudi Real Estate Infrastructure Company (Binyah)” on 20th December 2023.