A letter of intent has been received by the firm from the city’s developer Emaar the Economic City, which is currently finalising the contract.
The contract will result in the villas being constructed in an area of the city known as Resort Cove.
The project duration is expected to be 18 months. Construction is due to begin in August (MEED 21:5:08).
Al-Redwan is also one of three contractors bidding for the SR450m ($120m) university building at Taibah University, near Medina (MEED 4:6:08).