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FINANCIAL NEWS
Damac awards $120m contract for Jeddah project
04 Jul 2010
(MENAFN) Damac Properties said that it has awarded a $120 million contract to Drake and Scull International Centre for construction of its key Al Jawharah project in Jeddah, Saudi Arabia, Reuters reported.
The project will see teams mobilize on site within weeks to complete the construction of the 42 storey building in around 28 months, said a statement from Damac. The new contract comes after the completion of enabling works on the site, it added.
Located on the Jeddah Corniche alongside the Red Sea, Al Jawharah will be a spectacular residential tower offering luxurious five bedroom penthouses and apartments ranging from one to four bedrooms.
Many indicators point to Saudi being one of the markets most likely to see price increases in the next 12 months and this coupled with Jeddah?s growing popularity and importance as a business hub means that developments like Al Jawharah which combine luxury, style and location will be hugely sought after.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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