Hail Cement Company said it had signed a housing contract with the joint venture of Teberak Trading and Contracting Company and Mo B. Co. for Civil Construction.
The contract value is SR117,800,000, according to a statement posted on the Tadawul website.
It said the project will be completed in four phases. The first phase will be completed in 11 months starting Sunday, the second in 14 months, the third in 16 months and the fourth in 18 months.
The total area of the housing campus is 80,000 m2 out of which the built up area is 45,000 m2 comprising 19 Villas, 120 apartments for families, 108 single rooms for bachelors, a building of 12 studios for guests and 2 buildings of 24 studios for supervisors.
The colony will be equipped with facilities like 2 recreation halls separately for male and female, mosque, playground for children, swimming pool, basket ball court, supermarket, laundry, barber etc. which will have round the clock security.
The location is adjacent to the cement plant in Turbah about 220 km north of Hail.
The financial impact will effectively begin this month (January).
© Arab News 2012
