Saudi-based Knowledge Economic City (KEC) has signed two contracts worth $77M with Elkhereiji Commerce and Contracting Company for a key project within its mixed-use development, Al Alya, in Madinah.
One of the main projects in the KEC, Al Alya will come up on a 269,000sq m area in the Saudi city. The gated complex includes hospitality, housing, offices, retail and education components.
The first contract worth SAR117.5M is for implementing all contracting work for four residential buildings, with 132 residential units of various sizes, as part of Phase One of Al Alya mixed-use project, said KEC in its filing to Saudi bourse Tadawul.
The scope of work includes implementation of electromechanical, finishing and landscaping works at premium residential buildings within the mega project, said KEC in its filing to the bourse.
The second contract worth SAR171M will see Elkhereiji provide landscaping works for a group of eight residential buildings featuring a total of 264 units of various sizes currently being implemented as part of Phase I of Al Alya mixed-use project.
The work will begin on the project next month and will be due for completion in the first quarter of 2026.
