Arabian Centers Company, Saudi Arabia announces the awarding and signing of Madinah U Walk Project to be located in Al-Madinah Al-Munawwarah.
The Project was awarded to local construction firm, Lynx Contracting Company.
The value of signed contract is SAR 257.3 million (USD 68.6 million).
Project scope of work includes construction and development of a commercial center in Al-Madinah Al-Munawwarah, including the site preparation, excavation, backfilling, land leveling and the construction and development works.
The duration of the project is 14 months.
The project comes in line with the Company’s strategy of seizing opportunities and prime locations in areas where there is still an elevated demand for modern lifestyle destinations such as the Outdoor Shopping Centres.
Additionally, the Madinah Regional Municipality is keen to develop Al-Madinah Al-Munawwarah with quality projects that benefit its residents and visitors, as it is characterized as one of the most growing population regions in the Kingdom, in addition to being a part of the Hajj and Umrah stages that will be positively affected by the 2030 vision that aims to increase the number of tourists and Hajj and Umrah pilgrims greatly.
This project is going to be the second addition to the Company’s portfolio of shopping centers in Al-Madinah Al-Munawwarah, and it is expected to add about 57 thousand square meters to its gross leasable areas (GLA), statement said.
Read Also: Madinah’s Knowledge Economic City awards key projects
