# Garuda unit signs MoU with Almasarat for 93-storey Jeddah tower

> Garuda Construction and Engineering said its wholly owned subsidiary Dream City Builders signed an MoU with Almasarat Company Limited for a proposed 93-storey tower in Jeddah, with the full EPC scope expected.

- Canonical URL: https://newsverum.com/en/news/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026
- Publisher: Newsverum
- Section: Infrastructure
- Country: Saudi Arabia
- Published: 2026-10-05T09:37:37+00:00
- Updated: 2026-10-07T00:56:21+03:00
- Event / data period: 2026-09-07
- Other editions: [Türkçe](https://newsverum.com/tr/news/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026.md), [العربية](https://newsverum.com/ar/news/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026.md), [Français](https://newsverum.com/fr/news/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026.md), [Español](https://newsverum.com/es/news/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026.md), [Deutsch](https://newsverum.com/de/news/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026.md), [Português](https://newsverum.com/pt/news/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026.md)

Garuda Construction and Engineering Limited told the BSE and the National Stock Exchange of India on 7 September 2026 that its wholly owned subsidiary Dream City Builders, formerly known as Garuda Arabia, has entered into a memorandum of understanding with Almasarat Company Limited. The MoU concerns the proposed construction and development of a 93-storey tower in Jeddah, Saudi Arabia. Dream City Builders is expected to undertake the complete engineering, procurement and construction (EPC) scope, including construction, finishing and handover.

The tower is envisioned as a 360-degree twisting design with panoramic sea views, a five-star hotel of approximately 350 rooms across the lower 14 floors and a diamond-shaped rooftop restaurant on the 93rd floor. The filing gives a project area of approximately 153,451 square metres and an expected duration of approximately five years from commencement.

The filing estimates revenue potential of approximately ₹1,800 crore for Dream City Builders over the project period. It describes the arrangement as a memorandum of understanding and says it is subject to requisite approvals and commencement of the project.

## Data

### Project figures

Figures stated in Garuda Construction and Engineering Limited’s stock exchange intimation of 7 September 2026 for the proposed Jeddah tower.

Methodology: All figures are as stated in the intimation for a proposed project covered by an MoU, which is subject to requisite approvals and commencement of the project. The revenue figure is the company’s estimate of revenue potential for Dream City Builders in Indian rupees (crore) over the project period; it is not a contract value.

| label | value | unit | period | basis | value_qualifier |
|---|---|---|---|---|---|
| Estimated revenue potential for Dream City Builders over the project period | 1800 | crore INR | 2026-09-07 | estimate | approximate |
| Storeys in the proposed tower | 93 | storeys | 2026-09-07 | target |  |
| Hotel rooms planned across the lower 14 floors | 350 | rooms | 2026-09-07 | target | approximate |
| Project area | 153451 | square metres | 2026-09-07 | target | approximate |
| Expected project duration from commencement | 5 | years | 2026-09-07 | estimate | approximate |

Sources: <https://nsearchives.nseindia.com/corporate/GARUDACONSTRUCTION2010_07092026155203_Intimation_MOU_Signed.pdf> · Download data: [JSON](https://newsverum.com/api/v1/articles/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026/data/project-figures?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/garuda-dream-city-builders-almasarat-jeddah-93-storey-tower-mou-september-2026/data/project-figures?lang=en&format=csv)

## Sources

- [Garuda Construction and Engineering Limited via National Stock Exchange of India](<https://nsearchives.nseindia.com/corporate/GARUDACONSTRUCTION2010_07092026155203_Intimation_MOU_Signed.pdf>) (Source checked: 2026-10-04; Published: 2026-09-07)

## Correction history

- 2026-10-07T00:56:21+03:00: German and Portuguese editions and translations of the data and correction explanations have been added to this article.

---

Cite the canonical URL above. [Editorial standards and corrections](https://newsverum.com/en/editorial)