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Saudi-based Advanced Building Industries Company (Senaat) has announced that its key subsidiary, Advanced Construction Solutions Company for Projects (Zodcon), has secured a SAR232.
7 million ($62 million) contract from Hamat Group, a leading commercial real estate and property management company, for a mall project in Makkah.
What Zodcon will deliver
As per the deal, Zodcon will deliver mechanical, electrical and plumbing (MEP) services for the prime retail destination and complete the work within a 15-month period, Senaat stated in a filing to the Saudi bourse Tadawul.
The project represents a new addition to Zodcon's growing project portfolio and reinforces its presence in Saudi Arabia's construction sector through participation in large-scale urban development projects supporting the Kingdom's continued growth.
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About Zodcon and Senaat
Zodcon, a major player in the regional construction sector, was established through the strategic merger of Zamil Construction and Zamil Projects to create a stronger, more agile and fully integrated construction solutions provider.
Senaat, formerly known as Zamil Industrial Investment Company, is a leading Saudi industrial group headquartered in Dammam.
Built on decades of experience, the company specialises in delivering integrated design and build solutions across the industrial, commercial, logistics and infrastructure sectors.
Its capabilities include civil works, structural steel, mechanical, electrical and plumbing works, and project execution, giving it a broad base of expertise to draw on for large contracts such as this one.
Expected financial impact
The financial impact of the contract is expected to appear in the company's financial statements during the fourth quarter and is expected to have a positive impact on the results, Senaat added.
The deal adds to Zodcon's presence in Saudi Arabia's construction sector at a time when the Kingdom continues to see significant investment in large-scale urban development projects.
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