DGDA awards $115m infrastructure contract to Binyah
All of the construction works are expected to be complete in 478 days
A $115m contract has been awarded to one of the Saudi Real Estate Company’s (Al Akaria) business units. As per the terms of the contract, Binyah will carry out infrastructure work at Diriyah Gate Development Authority’s Wadi Hanifa project.
As per the contract, Binyah will implement key infrastructure work such as roads, water and sewage networks, rainwater drainage, irrigation, street lighting and other related works. Works are expected to be complete in 478 days and this will have an impact on Al Akaria’s financial results for the Q4 of 2021 and 2022, said Al Akaria in its filing to the Saudi bourse Tadawul.
The renewal and restoration of 2sqkm of the historic Wadi Hanifah is said to be a vital part of the $20bn Diriyah Gate mega-development. The enhancements include the restoration of the historic palm groves and farms, combined with new walking trails and picnic areas for the community to gather and enjoy.
Binyah, which is 60% owned by Al Akaria, is billed as a specialist in carrying out infrastructure development works including roads, bridges, tunnels and construction and extension of water and sewage networks and transmission and power distribution networks, in addition to public gardens, parks and irrigation networks.
