Saudi-based Al Ayuni Investment and Contracting Company has announced that it has been awarded SAR2 billion ($532 million) contracts by Diriyah Company, a unit of Saudi sovereign wealth fund PIF, to carry out infrastructure development works within its mega development coming up in the ancient Saudi city in Riyadh.
A 'First Class' contractor in Saudi Arabia since 2006, Al-Ayuni operates in several business lines including roads and bridges, railway, building, marble and mining, energy, water and power as well as real estate sectors.
A contract in this regard was signed by Diriyah Company Group CEO Jerry Inzerillo with Al Ayuni CEO Engineer Waleed Hamad Albathe on the sidelines of the recent Public Investment Fund and the Private Sector Forum held in Riyadh.
Also at the forum, Al Ayumi clinched a design-and-build contract from Roshn Group, a leading developer in the kingdom powered by Saudi wealth fund PIF, for public facilities and residential units within the Alfulwa community in the Eastern Province, said a statement from the company.
The contract was signed by Al Bathe with senior Roshn officials at the PIF and Private Sector Forum.
Spanning 10.8-million-sq-m area on the Al Ahsa Oasis in the Eastern Province, Alfulwa is Roshn's fourth residential community in the kingdom.
Being built near Dakhna Mountain and Al Qarah Mountain, the Alfulwa project illustrates the unique cultural and geographical heritage of the region, providing an ideal mix of urban facilities amidst the stunning mountainous nature.
Roshn pointed out that the project, in its design and construction, will adhere to the sustainability principle, contributing to a 18% reduction in energy consumption costs.
Alfulwa incorporates unique architectural features of the Eastern Province's buildings, which combine horizontal grooves and carefully crafted details, making it an ideal example of traditional architecture, it added.-TradeArabia News Service