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Masar, under Umm Al Qura for Development and Construction, has awarded two significant superstructure contracts valued at SAR 3.2 billion and SAR 899 million for Packages A and B, respectively. The projects will include seven hospitality towers and two shopping centers, marking a major step in the company's ongoing expansion in the hospitality and retail sectors. These contracts aim to speed up construction, enhance Masar's development portfolio, and support regional infrastructure growth, reinforcing the company's strategic focus on high-value, large-scale urban projects.
Masar, part of Umm Al Qura for Development and Construction, has awarded contracts for two superstructure projects, covering several hospitality and retail developments. The first contract, referred to as Package A, is valued at SAR 3.2 billion, while Package B has a contract value of SAR 899 million.
Together, the two packages include the construction of seven hospitality towers and two shopping centers. These projects form part of Masar's ongoing expansion efforts in the hospitality and retail sectors, aimed at supporting regional development and boosting infrastructure. The contracts are expected to accelerate construction timelines and enhance Masar's portfolio of large-scale developments.
The move reflects Masar's commitment to executing high-value projects and contributing to urban growth, while strategically strengthening its presence in key commercial and leisure hubs.
Source Reuters
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