Oger awarded KAEC package

Saudi Oger has won a US $131 million (SR494 million) contract to build four residential towers on Emaar EC's King Abdullah Economic City project (KAEC) in Saudi Arabia.

Saudi Oger has won a US $131 million (SR494 million) contract to build four residential towers on Emaar EC's King Abdullah Economic City project (KAEC) in Saudi Arabia.

The contract also includes the construction of roads, parking areas and landscaping.

The towers, which together will be made up of 616 apartments, are expected to be completed in 16 months.

Last week, Emaar EC also signed a $13.8 million deal with the International Centre for Commerce and Contracting for the construction of KAEC's resort villas and its main entrance gate.

"The construction schedules envisaged for KAEC are now taking off and we have finalised most of the contracts that form the first phase of development," said Dr Abdulraouf Al Mannaa, managing director, Emaar EC.

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