Red Sea signs SAR 52.9 mln contract with Commission of Al Ula to build a housing complex
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Red Sea International Co. (RSI) signed today, June 16, a SAR 52.93 million contract with Royal Commission for AlUla (RCU) to construct a turnkey housing complex in AlUla.
The contract includes the design, construction, supply and installation of 150 modular, high-quality, and fully furnished accommodation units on a turnkey basis, 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 Q3 2021, the listed firm said in a bourse statement.
No related parties are included in the deal, the statement added.