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FINANCIAL NEWS
Saudi Arabia’s Ewaan contracts two companies to build Alfareeda project
04 Jul 2011
(MENAFN) Ewaan Global Residential Company signed deals with both the New Job Company and Al-Arjab Contractors to divide up the infrastructure construction of the Alfareeda Residential Project in North Jeddah, Arab News reported.
New Job Company will build 199 villas and Al-Arjab Contractors will construct 170 for the first phase of the 2,088 housing unit, middle-income project, Fahad Mohammed Al-Mutawae, Ewaan CEO, said.
Ewaan decided to hire two contractors to speed up construction to meet high demand for villas, Al-Mutawae said.
The three companies signed the deal for the over 1 million square meter project at the Jeddah International Urban Development and Real Estate Investment exhibition.
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