Three local firms were originally invited to bid for the work, but none submitted a price due to the short timeframe set by the client, the Arriyadh Development Authority (ADA).
The companies were Saudi Binladin Group, Saudi Oger and Al-Yamama Company for Trading & Contracting. However, they are expected to reconsider their position and could now submit a bid.
The expected cost of the work is estimated to be SR600m ($160m).
Phase one, two and three are already being carried out by Al-Yamama.
The ADA is working with the Supreme Commission for Tourism to redevelop the historic Addiriyah village. The redevelopment will be divided into several elements, including the restoration of Addiriyah's central Al-Tarif archaeological site; rehabilitating rundown areas; and establishing a utilities network for the area (MEED 13:10:06).
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.