The contractor will be working in partnership with Saudi  conglomerate Al-Zamil Group on mechanical, engineering and plumbing (MEP) works for the Information Technology and Communications Centre (ITCC) in the kingdom's capital, it said in a statement on Wednesday.
On Sunday, Drake was awarded a SR450 million contract in Jeddah.
The firm is planning to buy two Saudi companies this year.
With a growing population of over 25 million, 70 percent of which is under the age of 30, the world's largest oil exporter will need to build one million new homes by 2014, HSBC said in a report last year.