Red Sea International signs SAR 192 mln contract with RCU for housing complex project

Logo of Red Sea International Co. 

Red Sea International Co. (Red Sea) signed today, Dec.  14, a contract worth SAR 192.01 million with Royal Commission for AlUla (RCU) to construct an integrated housing complex in AlUla. 

 

The contract was also awarded on Dec. 14. 

  

The one-year contract includes the design, construction, supply and installation of modular, high-quality, and fully furnished accommodation units, 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 Q1 2023, Red Sea said in a statement to Tadawul. 

  

There are no related parties, the statement added. 

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