DUBAI - Saudi Arabia's NEOM, which is building a huge economic zone, said on Sunday it awarded the contracts to finance, build, and operate its construction village to two companies.
Al-Tamimi Group and Saudi Arabian Trading and Construction Company won 10-year contracts for three residential areas that will house 30,000 workers who will develop the NEOM project, it said in a statement. The village will expand to accommodate more than 100,000 residents.
NEOM is a closed joint-stock company fully owned by Saudi Arabia's Public Investment Fund (PIF).
(Reporting by Hadeel Al Sayegh, Writing by Nafisa Eltahir; editing by John Stonestreet) ((Nafisa.Eltahir@thomsonreuters.com; +20 109 4966 335;))