Garuda Subsidiary Signs MoU for Jeddah Tower Project

Garuda Construction and Engineering Ltd announced that its wholly-owned subsidiary, Dream City Builders (formerly Garuda Arabia), has signed a Memorandum of Understanding (MoU) with Almasarat Company Limited. The MoU is for the proposed construction and development of a 93-storey landmark tower in Jeddah, Saudi Arabia. The project, envisioned as a 360-degree twisting tower, will include a five-star hotel and a rooftop restaurant. Dream City Builders will handle the complete Engineering, Procurement, and Construction (EPC) scope. The estimated revenue potential for Dream City Builders over the project's approximately five-year duration is ₹1,800 crore. The project is subject to requisite approvals.