Saudi-based Hamad Mohammed Bin Saedan Real Estate has announced that it has awarded a SAR19.78 million ($5.2 million)  contract for the construction of its prime project - HS Residences 2 - in Al Arid District in Riyadh to Abaad Almamar Contracting Company. 

Spanning 6,030 sqm area, the HS Residences 2 project features 60 modern residential units along with key amenities, said the company in its filing to Saudi bourse Tadawul.

HS Residences 2 is part of Hammad Mohammed Bin Saedan Real Estate Company's residential portfolio. It features homes designed with a focus on quality, privacy and efficient use of space, catering to the needs of a diverse range of buyers. 

It reflects the company's commitment to developing sustainable residential communities in emerging areas, it added. 

This comes close on the heels of Hamad Mohammed Bin Saedan Real Estate awarding a SAR13.7 million contract for the Dar Hamad 3 Residential Units Project in Namar Suburb. 

As per the deal, Raya Al Omran will be responsible for the construction of 32 residential units which will come up on a 9,600 sqm area.-TradeArabia News Service