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Knowledge Economic City Company has signed a SAR 32.5 million contract with Astra Construction Company for mechanical, electrical, and plumbing works related to the Riyadh Schools Complex. The agreement covers MEP works for buildings within the education project and forms part of the ongoing development activity undertaken by the company. The contract details were disclosed without any indication of unusual terms or financial risks. The development aligns with the company's past focus on delivering infrastructure and institutional projects through phased execution.
Knowledge Economic City Company SJSC informed the market that it has entered into a construction contract with Astra Construction Company for works linked to an education project in Riyadh. The agreement carries a total value of SAR 32.5 million and relates specifically to mechanical, electrical, and plumbing works. Advertisement
The scope of the contract covers MEP works for multiple buildings that form part of the Riyadh Schools Complex. These works are considered a critical phase in the development process, as they enable core building systems required for safety, utilities, and long-term operations.
The company has not indicated any material financial impact beyond the disclosed contract value. Knowledge Economic City has been undertaking phased development across its projects, with infrastructure and institutional assets forming an important part of its broader portfolio. Similar contracts in the past have typically been executed in line with project timelines and approved budgets.
No additional contractual risks or exceptional conditions were highlighted in the disclosure.
Source Reuters
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