Italy's Salini Impregilo prequalified for Saudi's $1bn The Avenues
The company has been prequalified for Phase 1 of the Riyadh retail project as it bids on work worth $3bn in the Middle East
Italian contractor Salini Impregilo has been prequalified to work on Phase 1 of The Avenues in Saudi Arabia.
The company also revealed that it is currently bidding on projects worth $3bn in the Middle East.
In a statement, Salini Impregilo revealed it was prequalified for The Avenues in Riyadh at an estimated value of $1bn (SAR3.75bn).
The Avenues consists of a complex with a shopping centre, two residential towers, two hotels, and a tower for offices and health services.
Salini Impregilo said the project would strengthen its "involvement in the building and urban mobility sectors in Saudi Arabia, where $88bn of investments are set to be spent on infrastructure during the next five years".
With more than 50 years of Gulf experience, Salini Impregilo expressed optimism about its future prospects in the region.
The company's regional portfolio includes the Kingdom Centre in Riyadh and the Sheikh Zayed Grand Mosque in Abu Dhabi.
Additionally, the Italian contractor said it was interested in participating in the region's public sector-led "big investment plans", including Neom, the Saudi city announced by Crown Prince Mohammad Bin Salman in 2017.
In February, Salini Impregilo was awarded a $1.3bn (SAR4.87bn) contract by Saudi Arabia National Guard.
The project entails the delivery of housing and urban planning services, as well as the construction of 6,000 villas, across a 700ha area to the east of Riyadh.
A 160km road, in addition to secondary routes and related services, a sewage treatment plant, and above- and below-ground water systems, will also be developed as part of the project.