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Knowledge Economic City has signed three agreements with China Gezhouba Group International Engineering Company (CGGC) to implement the works on projects connected to the framework agreement signed in June 2022.
The added agreements establish the estimated project cost, payment schedule, and cost settlement mechanism, which will be finalized upon fulfilment of certain conditions.
The works include the construction of the Al-Alya project
The works include the construction of the Al-Alya project, a mixed-use development within a semi-gated community, as well as the infrastructure works and the construction of phase one of the Islamic World District project.
The cost of the three agreements is projected to be approximately $970 million.