KAEC signs $56m contract with Ruwad
Contract for construction and interiors of residential project
KAEC has been increasing levels of construction over the past year
King Abdullah Economic City (KAEC) has signed a $56 million (SAR:210m) contract with Ruwad Construction Company (RCC) for the construction and interior finishing of 270 attached villas and a Community Centre.
The revitalised KAEC project, one hour north of Jeddah, has been steadily increasing levels of construction over the past 12 months, including construction of a massive new port, and completion of legacy projects. A major hotel on-site has also been completed.
The villas will be located in the KAEC’s prestigious Al-Murooj district, with handover date for the completed units scheduled for year-end 2014.
“Ruwaad Construction Company has earned an exceptional reputation for delivering quality projects in Saudi Arabia according to the highest international standards,” said Fahd Al-Rasheed, managing director and CEO of KAEC.
“We have full confidence in their qualified workforce led by a seasoned team of engineers and supervisors who employ the latest international management systems focusing on quality, safety and precision. This latest project will further enhance Al-Murooj District, which offers a unique premium lifestyle in proximity to the Red Sea and access to the extraordinary existing amenities within KAEC.”
RCC president Shaher Al-Taki expressed his satisfaction at the contract signing: “King Abdullah Economic City is a ground-breaking project, which is playing a pivotal role in the development of the national economy. Winning this prestigious contract is a validation of the work we have already completed for KAEC and we embrace the challenge with enthusiasm and dedication. We will be deploying the very best of our continuously expanding resources and expertise to complete this project efficiently, on-schedule and with excellence.”
The total ground area of KAEC is 168 million m2 along the coast of the Red Sea.
More than 50 national and international industrial companies have established operations or are in the process of building facilities in its Industrial Valley area.
