Saudi Aramco awards $300 mln housing contract to Turkey’s Kolin

01/08/2018 Argaam

 

Saudi Arabian Oil Co. (Saudi Aramco) has awarded Turkey’s Kolin Construction a $300 million construction contract for a housing project in the Eastern Province, according to MEED.

 

Under the contract, the Turkish company will carry out the site development of Increment 2 for the South Dhahran Home Ownership Program (SDHOP), known as Ajyal.  The entire SDHOP has a budgeted value of $5.5 billion.

 

Work on the contract, which will extend for 1,430 days, started in late July. It is expected to be completed in 2020 and will provide 2,400 villas for Aramco employees.

 

In 2016, the local Azmeel Contracting and Sinohydro Corporation Company were awarded a contract to build the 791 housing units at Ajyal.

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