ARABTEC Saudi Arabia has received a letter of intent from Saudi Binladin Group (SBG) for a new housing project in the Eastern Province of the kingdom.

The project involves the construction of 5,000 villas and site preparation on an agreed value of SR5 billion ($1.3 billion) over a construction period of 48 months. 

Arabtec is one of the largest active construction companies in the region and has constructed more than 8,500 villas for Dubai Silicon Oasis Authority, Dubai Properties, Mohammad bin Rashid Housing Establishment, Emaar at ‘Emirates Hills’, The Lakes, The Meadows, The Spring and Arabian Ranches, and for Shaikh Holding Group at Sanctuary Falls.