Red Sea International Company has announced its subsidiary has been awarded a $30.13 million (SAR113 million) contract by Modern Building Leaders Company (MBL) for a section of the Jeddah Central mega project.
Under the agreement, Fundamental Installation for Electric Work Company — the Red Sea International Company subsidiary — will provide engineering, procurement and construction (EPC) services for mechanical and electrical works (MEP) related to the site preparation and infrastructure work.
The company made the announcement in a statement to the Saudi stock exchange on Wednesday.
Jeddah Central Development Company, which is wholly owned by Saudi Arabia’s Public Investment Fund, signed four contracts in February to construct three architectural projects in the $20 billion Jeddah Central. The contract for the oceanarium at the master-planned waterfront project was awarded to MBL.
Jeddah Central
First launched in 2021, the $20 billion (SAR75 billion) project will develop 5.7 million square metres of land overlooking the Red Sea to be financed by the Public Investment Fund and from local and international investors.
It will include four notable landmarks: an opera house, museum, sports stadium, and an oceanarium.
Also planned are 17,000 residential units and over 2,700 hotel rooms, and commercial and retail spaces. In addition, the project will feature a marina and beach resorts, as well as restaurants and cafes, and diverse shopping options.
n 2022, The Jeddah Central Development Company (JCDC) commissioned Dar to complete the detailed master plan design for the first phase of the Jeddah Central Project.
The project master plan reflects the Hijazi essence of urban fabric and blocks that characterize the historic city of Jeddah in a contemporary interpretation designed to the highest international standards.
It also considers the application of the latest technologies to transform Jeddah into a “smart destination,” creating an effortless experience for residents and visitors. In addition, the design of the project has adopted world-class sustainability programs to contribute to supporting the environment and the economy, in line with the objectives of the Saudi Green Initiative.
More than 500 expert engineers and consultants participated in the development of the master plan, representing five of the best design houses in the world.