Saudi’s Maaden awards $260m housing deal

Mining firm hands deal to Azmeel to build 800 new villas to house employees in Jubail

Saudi Arabian miner Maaden has awarded an SAR1bn (US$260m) contract to Azmeel Contracting & Construction Company to build a new housing project to accommodate its employees.

The deal, which includes procurement and engineering, is for the first phase of Maaden’s Mutrafiah Housing Project at Jubail Industrial City, which includes 800 villas set for completion late next year. When finished in its entirety, Mutrafiah will comprise 3,600 villas.

"Our employees are our partners in success; their dedication and performance will help Maaden achieve our vision of becoming a world class minerals enterprise. Today's announcement is an investment in them," said Maaden CEO Engineer Khalid Al-Mudaifer.

As well as Mutrafiah, Maaden is currently building more than 250 family apartments in Jubail’s Jalmudah District, with the first batch of units scheduled to be handed over in the second quarter of this year.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Cash crunch at Saudi firm casts shadow over Lebanon's Hariris

Cash crunch at Saudi firm casts shadow over Lebanon's Hariris

The troubles at Saudi Oger have led to a cash crunch and layoffs...

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Plight of workers has alarmed their home countries and drawn...

4
Are the troubles easing for Saudi construction giant Binladin?

Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from...

Most Discussed
sponsoredTracking