Arabtec wins SAR 670 million Saudi construction project

Arabtec Holding received a letter of award to proceed with works for SAR 670 million construction project in Jeddah.

Arabtec said that it expected the award to increase in value to around SAR 1.5 billion adding that negotiations were ongoing to finalize this increase. The company didn't say who the project client is and didn't provide any further details on the deal.

Previous Arabtec projects in Saudi Arabia include 46 buildings as part of the Princess Noura University project in Riyadh and the construction of 5000 villas and associated infrastructure works for a new housing project in the Eastern Province with an agreed value of SAR 5 billion to be completed over a construction period of 30 months.