Saudi Real Estate Co. Announces Contract Sign Off with Mohammmad Al-Ojaimi Contracting Group

Saudi Real Estate Co. Announces Contract Sign Off with Mohammmad Al-Ojaimi Contracting Group

|Element List||Explanation|

|Introduction||The Saudi Real Estate Company signed a contract with Mohammmad Al-Ojaimi Contracting to carry out (design, approval and implementation of the infrastructure works for the Saudi Real Estate Company’s plots located in Al-Qadisiyah neighborhood in Riyadh, with an area of (1,913,399.61 square meters) where the project includes infrastructure networks and related works with a total value worth 119,803,976 SR|

|Date of Announcement of the Award||2022-02-10 Corresponding to 1443-07-09|

|Contract Subject Matter||Design, approval and implementation of the infrastructure works for the Saudi Real Estate Company’s land|

|Date of Signing the Contract||2022-02-10 Corresponding to 1443-07-09|

|Contract Value||119,803,976 SR|

|Contract Details|| Design, approval and implementation of the infrastructure works for the company’s land located in Al-Qadisiyah district in Riyadh, including:

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Road works, paving and asphalting of streets, electricity networks, street lighting networks, telephone networks, water and firefighting networks, sewage networks, flood drainage networks.

|Contract Duration||17 months, not including the period required to obtain the approval of the competent authorities|

|Financial Impact and the Relevant Period||The costs of this contract are capitalized, and the cost of the executed works is periodically added to the cost of the projects under implementation during the contract term, starting from the first quarter of 2022|

|Related Parties||Mohammmad Al-Ojaimi Contracting Group|