Saudi Arabia's Dhahran Techno-Valley Holding Company (DTVC) is expected to award the main construction contract for its Amaad Business Park Hotel in Dhahran in the first quarter, a source aware of the project details said.
"The main contract commercial bid submission deadline was 7 November 2019," the source told Zawya Projects, adding that the main contract is expected to be awarded by the third week of March 2020.
The source estimated the project cost at around $80 million.
The bidders for the main contract include Al Alkifah Contracting, Rashid Trading & Contracting, Al Yamama Company, Khonaini International, and Sinohydro, officials from these companies confirmed with Thomson Reuters Projects.
"Construction is expected to commence by early second quarter 2020, and the completion is planned for fourth quarter 2023," a second source said.
He said the scope of work includes the construction of a 332-key hotel building with food courts and parking facilities.
Khatib & Alami is providing design, lead, structural and Mechanical, Electrical and Plumbing consultancy services for the project, the second source added.
DTVC is a key driver of the Dhahran Techno Valley Ecosystem, which was created to promote a knowledge-based economy in the Eastern Province, according to its website.
(Reporting by Senthil Palanisamy; Editing by Anoop Menon)
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