Dec 29 2010 |
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Saudi Arabia: SR3.4bn contract signed for Jabal Omar project
By By GALAL FAKKAR JEDDAH: Jabal Omar Development Company , which is currently implementing a number of residential projects in front of the Grand Mosque in Makkah, signed a SR3.4 billion contract with a construction company on Tuesday to carry out the vital project.The project was previously scheduled to be completed in 2011 but was delayed due to the global economic recession, informed sources told Arab News. Saudi Binladin Group and Saudi Oger , which were the project's previous contractors, could not complete it.
"Earlier we had a plan to complete the project in one go by 2011. Because of the delay, we have decided to implement it in phases," said a source close to the company.
The project includes construction of nine hotels and 89 residential apartments in the first phase and four hotels and 72 apartments in the second phase.
© Arab News 2010
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