Announced Knowledge Economic City Company Al Khuraiji Trading and Contracting Company has signed a letter of award for an integrated contract that includes the construction of four additional residential towers within the first phase of the Al Olaya mixed-use project, in a move that boosts the residential supply within the project.

In a statement published on Tadawul, the company explained that the contract value is SAR 282 million excluding VAT, noting that the implementation of these towers will raise the total number of residential units being developed to 1420 units, which will be offered for sale through Off-plan sales systemunder the supervision of the Special Economic Zones and Cities Authority.

The contract covers all contracting works for the four residential towers, including electromechanical and final finishing works, to provide high-end residential units with a variety of spaces and designs, which are a new addition to the units currently being implemented within the project by the same contractor.

The project includes a diverse mix of urban components, including about 2,000 residential units of different sizes and styles, distributed among 1420 residential apartments in closed complexes, 70 luxurious residential villas of the «Mansion» category, in addition to 408 hotel apartments managed by the Hyatt International Hotel Group under its well-known Hyatt House brand, which enhances the attractiveness of the project as an integrated residential and investment destination.