The contract covers the construction of six four-floor buildings.
Each floor will have four apartments, aimed at families. The work will also include site development.
The project will be located in the Jalmudah district of Jubail Industrial City.
The housing area of the city is split into four zones covering 10 square kilometres.
A pre-tender meeting is due to be held on 19 October and the bid deadline is 15 December.
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