Gulf Construction Online - HK-Saudi consortium lands KAFD monorail project contract

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HK-Saudi consortium lands KAFD monorail project contract

31-10-2024

King Abdullah Financial District Development and Management Company has announced that it has awarded a landmark contract to a consortium of CRRC (Hong Kong) Company and CRRC Nanjing Puzhen alongside Hassan Allam Construction Saudi, for development of its groundbreaking monorail, a key initiative that is set to redefine urban mobility and improve pedestrian movement within the district.

The agreement was signed on the sidelines of the eighth Future Investment Initiative (FII) held at the King Abdul Aziz International Conference Center in Riyadh.

The monorail spans 3.6 km and features a driverless autopilot operation, setting new standards in safety and efficiency, said a statement from KAFD.

The sleek, elevated system will consist of six trains, travelling along a circular track with six stations strategically placed across the district to connect key areas, encompassing office buildings, retail spaces, and leisure facilities.

This highly anticipated transport system is designed to be both a sustainable and efficient solution, contributing to KAFD’s vision of creating a smart, connected city with eco-friendly mobility by reducing reliance on private vehicles, it stated.

Located in the heart of the Saudi capital, Riyadh, KAFD is a transformative mixed-use development that merges the worlds of business and lifestyle and sets new benchmarks in urban living, smart city technologies, and sustainable development, designed to transform how urban communities live, work, and play.

Spanning 1.6 million sq m, Saudi Arabia’s first vertical city is home to 95 buildings across five asset classes, featuring Grade A office spaces, upscale residences, diverse commercial and retail areas, luxury hospitality, and vibrant entertainment venues, all interconnected and walkable within 10 minutes.

Stephen Thomas, Chief Operations Officer of KAFD DMC, said: "Globally, urban mobility is undergoing a transformation, with the global public transportation market size projected to grow from $6.11 billion in 2024 to $28.89 billion by 2034, at a CAGR of 16.81% over the decade."

"With this project, we are not only enhancing the quality of life for KAFD’s residents and visitors but also contributing to the long-term sustainability of Riyadh. The monorail is a symbol of progress, seamlessly connecting the district while supporting Saudi Arabia’s Vision 2030," stated Thomas.

The monorail, he stated, offers seamless connectivity by integrating with the Riyadh Metro, making transfers smooth with enhanced accessibility throughout the city. Its design aligns with KAFD’s vision of a “10-Minute City”.

Li Dingnan, Chairman of the board at CRRC Nanjing Puzhen and Wu Yuqing, Investment Director at CRRC (Hong Kong) expressed delight at joining forces with KAFD DMC and Hassan Allam to bring this visionary initiative of the KAFD monorail Project to life.

"Undertaken by the CRRC-HACS Consortium under the leadership of CRRC, the worldwide leading rolling stock manufacturer and whole lifetime system solution provider, this project is set to deliver an advanced transportation network that not only enhances connectivity in KAFD but also sets a new benchmark for urban innovation and mobility in Saudi Arabia and beyond," he added.

Amr Allam, the Co-CEO of Hassan Allam Holding, said: "We are proud to partner with KAFD DMC and CRRC, and are honoured to play a pivotal role in the KAFD monorail project, a landmark development in Riyadh that signifies a significant milestone in our mission to enhance transportation networks and drive sustainable economic growth."

"This project underscores our long-standing commitment to Saudi Arabia, and we look forward to continuing our efforts to pioneer innovative solutions that contribute to the Kingdom’s growth and prosperity," he stated.

The monorail, expected to handle up to 3,500 passengers per hour during peak times, underscores KAFD’s commitment to pioneering urban solutions that improve residents’ quality of life while championing environmental responsibility, said Thomas.

Once operational, the project will establish KAFD as a model for future urban mobility developments globally, he added.-TradeArabia News Service