Saudi: Al Akaria unit seals $192.5mln Diriyah Gate excavation contract

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As per the contract, the entire work will be completed in 2027

Staff Writer, TradeArabia

April 3, 2024

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Saudi Real Estate Company (Al Akaria) said one of its key subsidiaries, Binyah, has sealed a contract worth SAR722.1 million ($192 million) with Diriyah Gate Development Authority (DGDA), for the implementation of excavation works at the mega Saudi development.

This comes following the awarding of the contract in December last year by DGDA for the excavation for Metro-Box Central, Metro-Box South and Metro-Box East and other Related Works, said Al Akaria in its filing to the Saudi bourse Tadawul.

The scope of work includes the implementation of Excavation for Metro-Box Central, Metro-Box South and Metro-Box East and Related Works.

As per the contract, the entire work will be completed in 2027, it added.

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