Red Sea Development awards road construction contract to Binyah

The Red Sea Development Company (TRSDC) has awarded a design and construction contract to Saudi Real Estate Infrastructure Co. (Binyah) to begin the construction of the coastal and inland connecting road links at the destination, a statement said.

The contract was awarded to design and build 77km of roads, including a 10km highway, a 13km airport access road, interconnecting roads within the destination and an access road to the bridge connecting the main hub island, the statement added.

The construction, which is due for completion by the end of Q3 2020, will be closely monitored by TRSDC’s environmental team at all stages of the development.

It will also ensure compliance with the destination’s sustainability and environmental guidelines.

According to the data compiled by Argaam, Binyah is 60% controlled by Saudi Real Estate Company, and 40% by Mohammed Ali Al Swailem Group.

TRSDC has allocated more than SAR 10 billion to develop, operate and manage the Red Sea project's first phase, Argaam reported earlier.

John Pagano, CEO of the company, recently announced that TRSDC is working on signing more than 500 contracts in the coming period with leading Saudi and international firms to implement the first phase of its project.