Arabian Centres Co., the Saudi mall operator known as Cenomi Centers, signed an SR825 million design-and-build contract for the mall and office components of the Madinah Downtown project.
The contract, excluding value-added tax, was signed with Lynx Contracting Co. on Oct. 29 and runs for 30 months, the company said in a statement to the Saudi Exchange on Sunday.
It covers design and construction, along with engineering, supply, installation, testing, commissioning and handover works.
Madinah Downtown is a project of Saudi Downtown Co., a subsidiary of the Public Investment Fund within its urban development and livability portfolio.
Cenomi Centers said the financial impact would be reflected over the project execution period, Argaam reported.
Last week the company disclosed a separate SR104.3 million facilities contract for its Westfield Jeddah mall.
