King Abdullah Economic City (KAEC) has signed two contracts with Rezaik Abdallah Al-Gedrawi Company for the construction of 1,340 residential apartments and associated infrastructure in the first phase of Al-Shurooq District worth SR400 million, and for the infrastructure works at Al-Talah Gardens 3 worth SR135 million.

The contracts were signed by Fahd Al-Rasheed, managing director and CEO of KAEC, and Marzouk Mansoor, general manager of Rezaik Abdallah Al-Gedrawi Company.

Following the signing, Al-Rasheed said: “KAEC is fast becoming established as the premier destination where residents can enjoy an elevated lifestyle. Development of the city is continuing at a rapid pace and we are very pleased to award these contracts to Rezaik Al-Gedrawi Company who shares our commitment to the highest standards of development and construction.”

He added: “In KAEC, we are also committed to providing desirable residential units for all income levels and Al-Shurooq along with Al-Talah Gardens districts are the ideal place for young families and independents to find accommodation with surrounding amenities catering specifically to their needs.”

Mansoor, said: “These prestigious contract awards give us the opportunity to participate in the development of KAEC as one of the Middle East’s biggest new cities that is destined to become a powerhouse of the Kingdom’s economic diversification and the home for new generations of Saudi citizens who will enjoy their lives in a beautiful coastal environment that offers the best of everything the 21st century has to offer.”