Al Akaria, a Saudi Real Estate Company, has announced that its subsidiary, Saudi Arabia Real Estate Infrastructure & Construction Company (Binyah), in partnership with InfraRoad Trading & Contracting, has successfully secured infrastructure package contracts with Qiddiya Investment Company worth 2.29 billion Saudi riyals ($610.49 million).
These contracts encompass the development of crucial infrastructure elements and bridges for the Qiddiya Resort Core. This scope includes primary and secondary road systems, utility networks, utility culverts, pedestrian bridges, and storm drainage channels. This announcement was made through a statement released on the Saudi stock exchange.
The Resort Core is a dedicated zone for pure entertainment and leisure, serving as the future home to Qiddiya‘s theme parks, including the renowned Six Flags Qiddiya, as indicated on the Qiddiya website.
Furthermore, the agreement encompasses the entire process, from design to construction, testing, and commissioning, for various essential facilities, including a sewage treatment plant, irrigation water storage tanks, a pump station, a potable water storage tank, and a solid waste transfer hub. The contract duration spans 22 months.
Binyah, which is 60% owned by Al Akaria, is engaged in infrastructure development, laying oil and gas pipelines, and constructing stations and main lines for water distribution.