Saudi Aramco has selected a consortium of local firms Lamar Holding and Asyad International for the contract to develop a housing public-private partnership (PPP) programme for its workers, as part of its East-West Corridor development.
MEED understands the 20-year contract involves the development, construction and maintenance of approximately 1,700 houses.
In October, Saudi Aramco invited firms to bid by February for the second PPP contract at the East-West Corridor workers housing development.
MEED understands the second contract has a similar scope to the first one, which involves the development of 1,700 houses.
In 2016, Aramco awarded a PPP housing development at its Fadhili gas development - where it is moving ahead with a major gas plant and power and steam project - to local firm Mohammed Al-Subeaei & Sons Investments Company (Masic). The contract involves the development of housing units for 2,500 employees.
The drive to implement PPP across various sectors has stepped up significantly since the launch of the National Transformation Plan (NTP) in 2016, with the Housing Ministry also pursuing a number of plans to oversee the development of PPP housing programmes.
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