City of Knowledge unit signs 91M riyal project

The Knowledge Economic City Company has signed a contract valued at approximately 91 million riyals through its subsidiary to carry out infrastructure works for the southeastern area of the city. The contract includes the construction of road networks, sidewalks, water and sewerage systems, stormwater drainage systems, irrigation and fire-fighting systems, as well as electrical and lighting works, telecommunications and information technology infrastructure, with a focus on centralized cooling networks. The implementation period is 24 months, and the contract payments will be made in scheduled installments based on actual progress, with costs capitalized as part of the project development expenses to enhance the book value of the assets. The goal of the contract is to prepare the land to attract investments and support the objectives of Saudi Arabia's Vision 2030.

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