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Arriyadh Development Awards $16 Million Contract for Warehouses

June 4 (Bloomberg) -- Arriyadh Development Co., a Saudi property developer, awarded a contract valued at 59.3 million riyals ($16 million) to a local company to build cooling and freezing warehouses in southern Riyadh.

Arriyadh will finance the project, which will be completed within 12 months, from its own resources, the Riyadh-based company said in a statement to the Saudi bourse website today.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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