Dar Al Majdiah Real Estate Company (Al Majdiah) has signed two contracts with Tatweej Contracting Company to implement two residential projects - one each in Riyadh and Jeddah - as part of the company’s projects with the National Housing Company (NHC).
The Adeem Al-Fursan project in Riyadh is an off-plan development comprising 540 villas and townhouses. The SAR298.127 million ($79.47 million) contract comes within the company’s commitment to its expansion plans to develop high-quality residential projects that align with Saudi Vision 2030 and meet the needs of the real estate market, said a company filing at the Saudi Exchange.
In another contract, Al Majdiah awarded the construction of the Khayala 1 residential project in Jeddah, which is also one of the company’s projects with the National Housing Company (NHC) to Tatweej Contracting.
The project is an off-plan development comprising 528 residential units and the contract is valued at SAR155.48 million ($41.45 million).
The scope of the contracts includes construction, infrastructure, and all execution works in accordance with the approved specifications. - TradeArabia News Service
