Dar Al Majed Real Estate Company (Al Majdiah) has awarded a contract to build eight residential buildings comprising 226 units in Riyadh.

The contract, valued at 77 million Saudi riyals ($20.52 million), was awarded to Emarna Contracting Co. to execute the Al Majdiah 174 project on a turnkey basis in Al-Nada district, the company said in a statement to the Saudi stock exchange.

Under the deal, Emarna will cover all turnkey works, including construction, architectural and finishing works, electrical and mechanical services, safety and protection systems, HVAC works, and general site works.

The project is expected to be completed in 12 months, the statement said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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