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FINANCIAL NEWS
Saudi Rezaik Al-Gedrawi Co, KAEC sign key deal
15 Sep 2014
(MENAFN) King Abdullah Economic City (KAEC) announced it has signed two contracts with Rezaik Abdallah Al-Gedrawi Company for two projects within the new city, Arab News reported.
Under the first contract, Rezik Gedrawi will be constructing 1.340 residential apartments and associated infrastructure in the first phase of Al-Shurooq District, with an expected worth of USD106.62 million.
Meanwhile, the second contract is for the infrastructure works at Al-Talah Gardens 3 worth USD35.98 million.
“KAEC is fast becoming established as the premier destination where residents can enjoy an elevated lifestyle. Development of the city is continuing at a rapid pace and we are pleased to award these contracts to Al-Gedrawi Co who shares our commitment to the highest standards of development and construction,” The CEO of KAEC said.
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