King Abdullah Economic City (KAEC) has awarded new construction and development contracts at more than SAR 1.2 billion in 2018, Saudi Press Agency (SPA) has reported, citing acting chief executive officer, Ahmed bin Ibrahim Linjawi.

 

Local companies and entities bagged more than 90 percent of the contracts.

 

A 20 percent of the contracts' value will go for the development of the Industrial Valley as well as the residential buildings, while the remaining 80 percent will be utilized in developing a number of projects, products and services in fields of tourism, entertainment and sports.

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