Red Sea International signs SAR 192 mln contract with RCU for housing complex project

14/12/2022 Argaam

Red Sea International signs SAR 192 mln contract with RCU for housing complex project

Logo of Red Sea International Co. 

Red Sea International Co. (Red Sea) signed today, Dec.  14, a contract worth SAR 192.01 million with Royal Commission for AlUla (RCU) to construct an integrated housing complex in AlUla. 

 

The contract was also awarded on Dec. 14. 

  

The one-year contract includes the design, construction, supply and installation of modular, high-quality, and fully furnished accommodation units, which will serve as the housing complex for one of RCU’s strategic projects in AlUla. 

 

The contract has a term of three months with the financial impact to be realized in Q1 2023, Red Sea said in a statement to Tadawul. 

  

There are no related parties, the statement added. 

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