MGB Bhd, a Malaysian construction and property development solutions provider and subsidiary of LBS Bina Group, has announced that its indirect wholly-owned subsidiary MGB International For Industry (MGBI) has accepted two purchase orders from Sany Alameriah worth $24.99 million.
This relates to a contract signed between Sany Alameriah and the SALD Industrial Company for the supply and installation of precast elements, including walls, staircases, beams, and hollow-core slabs for 400 villas in the ROSHN Alarous development north of Jeddah.
These orders were made under the joint venture agreement signed between MGBI and Sany Alameriah in July 2023, with the latter securing a minimum order of 270,000m3 of precast concrete products within three years. MGBI expects to complete the orders within 14 months from the date it receives the approved shop drawings or advance payment, whichever is later.
When all phases have been finished, it will provide over 18,000 residential units
The ROSHN Alarous development is a highly esteemed and prominent project that covers more than four million square meters. When all phases have been finished, it will provide over 18,000 residential units.
The first phase, nicknamed The Bride of the Red Sea, will offer more than 2,200 family units, with pedestrian-friendly streets and green spaces alongside retail, sports, and other recreational amenities.
MGB Group Executive Chairman Tan Sri Ir Dr Lim Hock San commented, “The orders represent the progress MGB has made in expanding its brand internationally. By firmly establishing ourselves in Jeddah, we look forward to delivering quality workmanship and products to our clients. At the same time, we continue to seek opportunities to promote our expertise as a total construction solutions provider through the use of value-driven technology.”