Al-Redwan tipped to secure Yanbu villas contract

07 July 2008
The local Al-Redwan Contracting Company is set to be awarded the construction contract for villas at Yanbu in Saudi Arabia.

Negotiations are at an advanced stage and an award is expected later this month.

The contract is for 240 villas, to be built in two phases of 200 and 40 villas respectively. There will be three types of villas, measuring between 400 and 500 square metres.

The project is known as Al-Basateen and will house employees working at the industrial sites of the Royal Commission for Jubail & Yanbu, and Saudi Basic Industries Corporation (Sabic).

A separate contract covering the infrastructure of the site will be awarded separately.

In total the work on the villas and the infrastructure is expected to be worth SR350m ($93m).

The local Kinan International Real Estate Development Company, the real estate arm of the Savola Group, is the client.

The project duration is 21 months (MEED 20:5:08).

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