Dubai (PlantAndEquipment.com) - Diriyah Company has granted two construction contracts totaling SAR2.73 billion ($720 million) to MAN Enterprise Al Saudia, Al Majal Al Arabi Group, and UrbaCon Saudi Company for luxury hotels and branded apartments in Diriyah Square in Saudi Arabia.

The first contract, worth SAR1.324 billion ($353 million), was granted to a joint venture of MAN Enterprise Al Saudia and Al Majal Al Arabi Group (MAN-MAG JV). The group will build three hotels and two residential properties.

The second contract, for SAR1.406 billion ($375 million), was granted to UrbaCon Saudi Company, a subsidiary of Qatar's UCC Holding, for three hotels and one residential complex.

Both packages include building facades, blockwork, interior fit-outs, mechanical, electrical, and plumbing (MEP) installations, and exterior work. The buildings will have 413 premium hotel rooms and 34 branded residential apartments.

The most recent awards expand on existing contracts held by both companies at Diriyah. UrbaCon is part of a SAR8 billion joint venture to build four hotel buildings and the Royal Diriyah Equestrian and Polo Club in Wadi Safar, while MAN-MAG JV was previously awarded a SAR917 million contract for Diriyah's Grand Mosque.

Diriyah Square is part of the larger SAR237 billion ($63.2 billion). Diriyah development in Riyadh is expected to house roughly 100,000 people and draw 50 million visitors per year once completed.