Arabian Centres Company (ACC), the owner, developer and operator of lifestyle shopping centres in Saudi Arabia, has awarded a $68.5 million contract to Lynx Contracting Company, for the construction of a new shopping centre in Madinah.
Lynx Contracting is part of Dammam-based company Lynx Arabia which works in a number of areas including providing vehicles and equipment on hire basis for contractors.
In a filing to Tadawul, the Saudi bourse, ACC said that the project, Madina Walk, will be the second addition to its portfolio of shopping centres in the city, and that it will add approximately 57,000sqm to its gross leasable areas (GLAs).
Furthermore, the company added that Lynx Contracting would be responsible for site preparation, excavation, backfilling and land levelling works, in addition to the construction and development of the commercial centre.
It said that work on the project is scheduled to start imminently, and that it would likely be completed within 14 months.