Aecom Technology Corp. on Monday said it won two contracts totaling $60 million to work on multi-use real estate development projects in the Middle East.
The bigger contract is for $45 million, and it is to design and manage construction of the Al Raha Beach Development project in Abu Dhabi, United Arab Emirates. Aecom, a Los Angeles technical and management consultant, will be the lead design and engineering consultant for construction services on the multi-use, $14 billion project, the company said.
The other contract is for $15 million to provide program-management services for Knowledge Economic City in Madinah, Saudi Arabia. The 2,075-acre project, which is expected to cost about $8 billion, will take 10 to 12 years to complete, Aecom said.
Aecom said the beach development will include residential, retail, recreational and commercial properties, including marinas and canals. The Knowledge Economic City development is projected to create more than 20,000 jobs and have population of about 150,000 people.
Aecom shares rose 8 cents, or less than 1 percent, to $30.74 in midday trading on the New York Stock Exchange.
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