An award for a major housing contract at King Abdulaziz University in Jeddah, is expected by the beginning of March.
On 8 February a group of Al-Arrab Contracting Company and Rabia Contracting, both local, submitted the lowest bid of SR2.1bn ($560m) for the housing project.
The contract includes the construction of 42 buildings of six storeys in height. It also includes the construction of a further 1,260 housing units. In total, the buildings will cover 500,000 square metres.
Two other local firms submitted bids for the work. Al-Muhaidib Contracting Company submitted a bid of SR2.7bn, and Abdullah Al-Khodari Sons Company submitted a bid of SR2.8bn.
The project had been expected to cost close to SR3bn. King Abdulaziz University is the client (MEED 8:2:09).