The scope covers the construction of the concrete skeleton for four residential towers located in Bay La Sun Village within KAEC.
Each tower will feature 13-storeys and the combined built-up area will be 200,000 square metres. Phase one is scheduled for completion at the end of 2008 and phase two in early 2010.
In total, 532 apartments will be constructed, with a retail area of 9,000 square metres.
It is the latest contract to be awarded within the residential area of Bay La Sun Village.
Last month, Saudi Binladin Group was awarded a SR1.4bn contract for the design and construction of 16 buildings covering a total built-up are of 332,000 square metres.
Each tower will be 10 storeys in height.
The contract is scheduled for completion in September 2009 (MEED 29:04:08).