Al Akaria inks deal with Expo 2030 Riyadh for initial works at Expo 2030 site

Al Akaria signs a four-year framework agreement with Expo 2030 Riyadh Co. to execute infrastructure works for the Expo project site through Binyah

Saudi Real Estate Co. (Al Akaria), through its subsidiary Saudi Real Estate Infrastructure Co. (Binyah), signed a framework agreement with Expo 2030 Riyadh Co. (ERC) to carry out initial works at the Expo 2030.

The agreement includes demolition, excavation and backfilling, as well as the development of logistical facilities to support the project’s early stage work, Al Akaria said in a statement on Tadawul today, Nov. 23.

The relevant financial impact will be determined based on the scope of assigned work. The agreement, to which the Public Investment Fund (PIF) is a related party, runs for four years.

Binyah, which is 60% owned by Al Akaria, is one of the national specialists in infrastructure development. Its activities include building roads, streets, pavements and related works; building bridges and tunnels; extending oil and gas pipelines; developing water distribution stations and main networks; and delivering sewage plants, drainage networks and pumping stations.

It also builds port quays and marine structures, carries out demolition works, and prepares sites through excavation, grading and network installations.