Saudi’s Knowledge Economic City signs $76.9 Million Contracts for Al-Alya project

Saudi’s Knowledge Economic City signs $76.9 Million Contracts for Al-Alya project

The Knowledge Economic City announced in a statement that it has signed two contracts with ElKhereiji Commerce & Contracting Co. at a total value of SAR 288.6 million.

The first contract includes implementing all contracting work for four residential buildings, with 132 residential units of various sizes, as part of the first phase of residential buildings of Al-Alya mixed-use project at a value of SAR 117.5 million

The new contract brings the total number of residential buildings to 12, offering 396 apartments assigned to ElKhereiji within the first phase of the project.

Meanwhile, the second contract is for the electromechanical, finishing, and landscaping works for a group of eight residential buildings, providing 264 residential apartments, currently being implemented within the first phase of Al-Alya project at a value of SAR 171.3 million.

The duration of the first contract is for 24 months, starting from the issuance of the construction permits and the second contract is for 20 months, beginning on May 5, 2024.

Al-Alya is one of the main projects in the Knowledge Economic City. The gated complex includes hospitality, housing, offices, retail, and education components. The project is designed to respond to the quality-of-life program that relies on green areas and pedestrian walkways to