Contracts awarded for major KAFD projects
01 March 2024
The King Abdullah Financial District Development and Management Company (KAFD DMC) announced a series of partnerships and collaborations at the second edition of the Public Investment Fund’s (PIF) Private Sector Forum, held last month in Riyadh.
KAFD DMC is a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF) and oversees the development of the King Abdullah Financial District (KAFD) – a landmark project and a key driver of Riyadh’s economic ambitions.
KAFD awarded contracts to five enterprises across diverse sectors, from construction to hospitality and technology solutions, marking a significant milestone in the ongoing development and renovation works at KAFD.
Three design-and-build contracts were awarded to the Mohammed Alrashid Trading & Contracting Company (Marco) for key projects within the development. Under this deal, Marco will undertake the comprehensive design, procurement, construction, testing, commissioning, and handover of works for Buildings 3.01, 3.02, 3.06, and the rooftop area of Building 3.11, in addition to two sky bridges. MID Arabia was awarded the fit-out works for a lifestyle hotel, while Advanced Communications & Electronic Systems Company (ACES) was signed up to build a state-of-art 4G and 5G telecom infrastructure and support all mobile operators and provide seamless connectivity for all tenants and residents.
Source Machinery was awarded two contracts for the development of the first four phases of KAFD’s Area 6, laying the groundwork for future expansion plans, while Jash Technical Services was commissioned to provide comprehensive community services for KAFD’s common use facilities.
Meanwhile, a joint venture of Saudi Constructioneers (Saudico) and the fit-out unit of UAE group Alec secured the fit-out contract for a new 16-storey luxury hotel in KAFD. The joint venture will be responsible for all aspects of fit-out design completion and implementation including civil and structural works, furnishings, MEP, sanitary ware and accessories, lift interiors, kitchen and laundry equipment, and certain landscaping, hardscaping and facade works.
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- Contracts awarded for major KAFD projects
