Saudi Real Estate Infrastructure Company (Binyah), a subsidiary of Saudi Real Estate Co. (Al-Akaria), which is listed on the Tadawul stock exchange, has secured a major contract to develop a Treated Effluent Sewage (TSE) network as part of the expansive Green Riyadh initiative, reports Zawya.
This contract, part of the Green Riyadh Programme – Group Eleven project, is worth 660.3 million Saudi riyals (approximately $176 million) and was awarded by the Royal Commission for Riyadh City, according to a statement from Al-Akaria disclosed on Monday.
The Green Riyadh project is one of the world's most ambitious urban greening initiatives, aimed at enhancing Riyadh’s ranking among the top 100 most livable cities globally.
This initiative is part of four major projects in Riyadh, launched by Saudi King Salman in March 2019, and is overseen by the Committee of Grand Projects, chaired by Crown Prince Muhammad bin Salman.
