Register for MEED’s guest programme 

Saudi Real Estate Infrastructure Company (Binyah), a subsidiary of Saudi Real Estate Company (Al-Akaria), has confirmed that it has won a SR722m ($192m) contract from Diriyah Company.

The contract scope covers the excavation works for Metro Box Central, Metro Box South, Metro Box East and associated works for the Diriyah Gate project in Riyadh.

The contract award comes shortly after Binyah won a SR532m ($144m) infrastructure contract from Diriyah Company for excavation works for car parks A and B and the development of associated infrastructure at the Diriyah Gate project.

In February, Diriyah Company awarded Binyah a SR544.1m ($145m) contract to design and build the Northern Cultural District’s P3 car park project.

The car park has at least 2,000 parking spaces across four basement levels, covering an area of 100,000 square metres.

Diriyah gigaproject

Developed by Diriyah Company, the Diriyah masterplan envisages the city as a cultural and lifestyle tourism destination. Located northwest of Riyadh’s city centre, it spans 1 square kilometre and combines 300 years of history, culture and heritage with hospitality facilities.

The project will feature entertainment, retail, educational, business and residential areas, including 38 hotels, over 100 food and beverage amenities and several museums.

The mixed-use traditional urban community will be created in the Najdi architectural style, typical of ancient Saudi villages.

The historic city of Al-Turaif is the centrepiece of Diriyah. Built in 1766, Al-Turaif was designated a Unesco World Heritage Site in 2010.