Monday, August 14, 2017

Red Sea, Aecom enter Saudi housing deal

Red Sea International Company has announced that its fully-owned subsidiary Red Sea Housing Services Company (Jafza) has signed a memorandum of understanding (MoU) with Aecom Middle East for cooperation in pursuing housing projects in Saudi Arabia. 

The main objective of the12-month MoU is to explore housing opportunities presented by the Ministry of Housing and identify ways to deliver innovative affordable housing solutions, that meet the expectations of the stakeholders, and can be delivered on fast track basis, said a statement.

Under the MoU, Aecom will carry out the following responsibilities: Project management and construction management; master planning (urban planning / infrastructure planning); sustainability and energy conservation; infrastructure design; buildings and landscaping design; modular construction solutions; cost consulting and value engineering services. 

There is no material financial impact at this point resulting from the MoU, it said.

A Fortune 500 company, Aecom is a leading global design firm. It provides professional technical services in the fields of engineering, consulting, planning, architecture, construction management, project management, asset management, and environmental services.-TradeArabia News Service

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