Saudi KAEC awards more than $319mm in contracts in 2018

Saudi Arabia’s King Abdullah Economic City (KAEC) has awarded over $319 million in construction and development contracts in 2018.

According to a statement from KAEC, 20% of the contracts were for the development of the city’s industrial valley and residential areas with its various utilities. 80% was allocated towards several projects, services and products aimed at enhancing living standards of residents in the city.

“The economic development plans of the city continue to strengthen the strategic sectors in the city, including the logistics and industrial sectors. The Industrial Valley has so far attracted more than 110 national and international companies. The development plans for the city are continuing so as to develop strategic sectors like the logistics and industrial sectors,” said CEO Ahmed Bin Ibrahim Lengawi.

The main focus was on projects linked to tourism, recreation, and sports facilities, KAEC said in its statement.