Saudi Binyah wins $192 million from Diriyah Company
Binyah, a subsidiary of Saudi Real Estate Company
(Al-Akaria), has secured a significant contract worth SR722 million ($192
million) from Diriyah Company. This latest contract involves excavation works
for Metro Box Central, Metro Box South, Metro Box East, and associated
activities at the Diriyah Gate project in Riyadh.
This achievement follows Binyah's recent success in winning
a SR532 million ($144 million) infrastructure contract from Diriyah Company.
The previous contract focused on excavation works for car parks A and B, along
with the development of associated infrastructure at the Diriyah Gate project.
Diriyah
Season spotlights the living heritage of the kingdom's birthplace
Earlier in February, Diriyah Company had entrusted Binyah
with a SR544.1 million ($145 million) contract for the design and construction
of the P3 car park project in the Northern Cultural District. This car park,
boasting a minimum of 2,000 parking spaces across four basement levels covering
an area of 100,000 square meters, is part of the ongoing development in the
Diriyah gigaproject.
The Diriyah masterplan, developed by Diriyah Company,
envisions the city as a cultural and lifestyle tourism destination. Located
northwest of Riyadh’s city center, spanning 1 square kilometer, it seamlessly
integrates 300 years of history, culture, and heritage with modern hospitality
facilities.
"Diriyah
Entrepreneurship Initiative" launched in hospitality, tourism, and arts
sectors
The gigaproject encompasses entertainment, retail,
educational, business, and residential areas, featuring 38 hotels, over 100
food and beverage establishments, and multiple museums. Embracing the Najdi
architectural style reminiscent of ancient Saudi villages, Diriyah aims to
create a mixed-use traditional urban community.
At its core, the historic city of Al-Turaif, built in 1766
and designated a UNESCO World Heritage Site in 2010, stands as a testament to
Diriyah's rich heritage. Once completed, Diriyah will have the capacity to
accommodate 100,000 residents and visitors, solidifying its status as a
thriving cultural and historical hub.
Source: https://www.meed.com/
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