RED SEA HOUSING COMPLETES CONSTRUCTION PROJECT FOR AUSTRALIAN GOVERNMENT

Reference to the announcement of Red Sea Housing Services Company on 01-09-2013 corresponding to 25-10-1434, in which Red Sea Housing Services Company Pty Ltd (an Australian Subsidiary) has signed a contract with the Australian Government-Department of Immigration and Citizenship in the amount of USD 35 million (SAR 131,250,000), the Company announces that the project was fully completed and handed over to the Australian Authorities on 06-11-2013 corresponding to 03-01-1435, before the end of the 70 days that was agreed upon in the contract. The project includes the construction of a housing camp with the capacity to accommodate 434 tenants, and provide for amenity facilities along with associated infrastructure and services. The project was constructed for the Temporary Regional Processing Center in Lombrum Naval Base located in Manus Island, Papua New Guinea. Completing this project once again demonstrates Red Sea Housing extensive experience and logistical capability to meet the requirements of its clients and provide comprehensive housing solutions even in some of the most remote areas of the world.