Binladin Group wins King Abdullah Economic City contract

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Saudi Binladin Group has been awarded a SR1.4bn ($370m) contract to build residential towers in King Abdullah Economic City (KAEC). 

The contract covers the design and construction of 16 buildings over a total built-up area of 332,000 square metres. Each tower will be 10 storeys in height.

Scheduled for completion in September 2009, the residential project will feature 1,000 apartments, parking for 1,700 cars, a retail area of 15,000 sq m and a lobby area of 7,000 sq m.

The towers will be located in the residential area of Bay La Sun Village.

Earlier this year, Saudi Freyssinet won a SR348m contract to design and construct two office buildings in the business park at Bay La Sun Village (MEED 6:2:08).