Al Akaria’s Binyah wins SAR 660.4M Green Riyadh project

Saudi Real Estate Infrastructure Co. (Binyah), a subsidiary of Saudi Real Estate Co. (Al Akaria), was awarded the "Treated Water Network for the Green Riyadh Program—Package 11" project by the Royal Commission for Riyadh City (RCRC), at nearly SAR 660.36 million, including VAT.

In a statement on Tadawul, Al Akaria said that the project was awarded on Aug. 28, with the contract expected to be signed on Nov. 28.

There are no related parties to the deal, the statement added.

Binyah is a national company specializing in infrastructure development, with Al Akaria owning 60% of its shares.

The company’s track record includes constructing roads, bridges, tunnels, oil and gas pipelines, water distribution stations, sewage plants, port piers, and marine structures, as well as demolition, excavation, leveling, and network installations.