Al Akaria’s subsidiary wins SAR 722.1M contract from DGDA

Logo of Saudi Real Estate Co. (Al Akaria)

Saudi Real Estate Co.’s (Al Akaria) subsidiary, Saudi Real Estate Infrastructure Co. (Binyah), secured a contract worth SAR 722.1 million, including VAT, from the Diriyah Gate Development Authority (DGDA).

The contract entails the execution of excavation works and related activities for Metro-Box Central, Metro-Box South, and Metro-Box East, according to a statement to Tadawul.

Binyah is a national company specializing in infrastructure development, with Al Akaria owning 60% of the company.

Binyah's expertise lies in the construction of roads, streets, sidewalks, road accessories, bridges, tunnels, extension of oil and gas pipelines, establishment of stations and main water distribution lines, creation of sewage stations and projects, development of sewer networks and pumps, construction of port docks and marine facilities, as well as the demolition and removal of buildings. Binyah is also involved in site preparation activities, including excavation, leveling, and network installations.

The Public Investment Fund (PIF) is a related party to the contract award, the statement added.