Muscat: Saudi contractor Msandh Al-Emdad Limited Co has received a RO11.285 million letter of award to construct 160 villas and carry out preliminary site-grading works at the Jood development in Sultan Haitham City, Al Kathiri Holding said in a regulatory disclosure to the Saudi Exchange (Tadawul).
The award, dated October 6, covers Package V1.1 of the residential development and includes construction of the villas together with preliminary rough-grading works. According to the disclosure, the award value excludes value-added tax and was set for award purposes. It does not necessarily represent the final contract value, which remains subject to completion of value engineering and final agreement between the parties. The final construction contract is expected to be signed on November 5, subject to completion of the contractual procedures.The works are scheduled to run for 24 months from the commencement date to be agreed between the parties. Msandh Al-Emdad is wholly owned by Saudi-listed Al Kathiri Holding.
The parent company said the Oman project is the subsidiary’s first project outside Saudi Arabia and is expected to begin contributing to its consolidated financial results from the first quarter of 2027. The award was issued by Talaat Moustafa Group Muscat Company for Real Estate Development, which is developing Jood within Sultan Haitham City. The package represents one component of the wider Jood residential development and provides a new indication of construction activity as the project moves from the broader development programme into individual implementation packages.
Jood is planned across approximately 2.7 million square metres and is expected to comprise 7,746 residential units, including villas and apartments. Talaat Moustafa Group entered Oman through the Jood and Yamal developments, which together represent planned investment of around RO1.7 billion.
The latest Saudi market disclosure adds previously unavailable implementation detail by identifying the contractor, package value, number of villas and scope of works. The final value of Package V1.1 and the confirmed commencement date are expected to become clearer once the value-engineering process is completed and the construction contract is signed.
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