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Red Sea International wins $35m Saudi Neom contracts

October 15, 2020

Red Sea International said it has been awarded contracts worth SR131 million ($35 million) for the design, build and facilities management of accommodation units, offices and all supporting building amenities within Saudi Arabia's futuristic $500-billion new city Neom.

As per a SR78-million ($20.7 million) contract signed last week, the Saudi firm will be providing engineering, procurement and construction (EPC) services for the accommodation units, offices and all supporting building amenities for the employees of Neom.

Another deal signed recently, valued at SR53 million ($14 million), will cover the facility management, operations and maintenance services for the accommodation, offices and all supporting building amenities for the senior employees of Neom Industrial City Project, said Red Sea International in its filing to the Saudi Stock Exchange (Tadawul).

Under this three-year contract, the scope of work includes comprehensive facility management and camp operations services including catering, housekeeping, laundry maintenance, medical, security and recreational services.

Neom, a Public Investment Fund (PIF)-backed giga project, will boast hyperconnected towns and cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations.

A beacon for the future of urban living, Neom will have resource-efficient utilities and a highly advanced transport system to connect its cognitive cities.

Integrating sustainable land use, intelligent urban design and multi-modal mobility, Neom will deliver a community of exceptional liveability.

Its next-generation cognitive cities will support cutting-edge urban environments, improving the lives of residents and businesses far beyond the capabilities of today's smart cities.

Neom's infrastructure will utilise artificial intelligence (AI), robotics, and human-machine fusion to deliver greater predictive intelligence and enable faster decision making across all its sectors.

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