KAEC awards $60m Saudi villa contract
Riyadh, September 15, 2013
King Abdullah Economic City (KAEC) has awarded a SR210 million ($60 million) contract to Ruwad Construction Company (RCC) for the construction and interior designing of its upcoming 270 attached villas and a multifaceted community center at the Al-Murooj district within the economic city.
The estimated handover date for the completed units is scheduled for the end of 2014, said a top official.
“RCC has earned an exceptional reputation for delivering quality projects in Saudi according to the highest international standards,” remarked Fahd Al-Rasheed, the managing director and the 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.”
Commenting on the win, RCC president Shaher Al-Taki said: "KAEC 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," he noted.
KAEC is one of the largest and most important private sector initiatives in the Middle East, encompassing a total area of 168 million sq m along the coast of the Red Sea. Through its Industrial Valley KAEC has succeeded in attracting more than 50 national and international industrial companies.
Charles Biele, the head of Residential Development in KAEC, said the Al Murooj district features an excellent balance of well-appointed villas and townhouses for families who wish to reside in an upscale and family-friendly environment.
"The district’s luxurious, private neighbourhoods and lush landscaping make it one of the most desirable residential communities in Saudi," he added.-TradeArabia News Service