Al Akaria’s Binyah signs SAR 660.4M contract for Green Riyadh

22/10/2024 Argaam
Logo ofSaudi Real Estate Infrastructure Co. (Binyah)

Logo of Saudi Real Estate Infrastructure Co. (Binyah)

Saudi Real Estate Co. (Al Akaria) announced that its subsidiary Saudi Real Estate Infrastructure Co. (Binyah), signed on Oct. 20, a contract for the treated sewage effluent (TSE) network for the Green Riyadh Program - Group 11 with the Royal Commission for Riyadh City (RCRC).

 

According to a statement on Tadawul, the contract is valued at SAR 660.36 million, including value-added tax (VAT).

 

For more news and details on the projects

 

The 20-month contract is expected to impact the financial results from Q4 2024 until Q2 2026.

 

Last September, the contract was awarded to Binyah, a national company specializing in infrastructure development, with Al Akaria owning 60% of its shares, Argaam earlier reported.

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