The total value of all construction contracts awarded so far by Qiddiya Investment Company (QIC) on Saudi Arabia’s Qiddiya gigaproject — the Kingdom’s capital of entertainment; sports, and the arts — since construction began 12 months ago; has reached SR2 billion ($533 million approximately); with 100 percent of the contracts awarded to Saudi companies.
The most recent contract; a three-year SR1.1 billion agreement to construct major roads and bridges on the upper plateau of the site; by Haif & Freyssinet — a joint venture contract; between the two local firms — allowing QIC to cross the SR2 billion mark.
Commenting on the milestone, Kareem Shamma, Chief Development Officer said: “Reaching the SR2 billion mark (total value of construction contracts) is a very important milestone for us; but what’s more important is that these contracts went through a tough and competitive bid process among Saudi firms, and this; wholeheartedly, supports our intention to contribute to the growth of the domestic economy.
It is also indicative of our continued commitment to creating the Kingdom’s capital of Entertainment, Sports, and the Arts. The global pandemic has affected businesses across the globe but we remain steadfast in our vision; and fortunate to have the continued and unwavering support from our leadership to stay on track; deliver on time, and keep moving forward.”
Owned by the Public Investment Fund (PIF) and in accordance with Saudi Vision 2030; QIC aims to prioritize business opportunities for local companies
Catalyze economic and inclusive growth
“In line with the Kingdom’s overarching strategy to open the country’s doors to the world; we aspire to create a key tourist destination on the world map. It will not just be a city but rather, a whole new world that promises immersive experiences to visitors. We continue to work with leading Saudi construction companies in order to ensure we fulfill our promise to the Kingdom.”
During the lockdown, Qiddiya ensured application of all necessary safety precautions and protocols and was able to continue with construction. Work progressed without interruption; adhering to all Ministry of Health guidelines.
Nearly 500 units of heavy equipment and 800 workers are currently on-site with the number of construction workers that may reach 1,000 by end of 2020.
Major utilities diversions take place to allow further construction including the relocation of 92 high voltage transmission towers, 40-km of high voltage transmission lines, 720 medium voltage transmission towers, 70km of medium voltage transmission lines, 36km of fiber optics cables, and 8km of water utility pipes.
In detail Qiddiya has successfully completed total road asphalting of over 275,000 m3, and concrete pouring of 80,000 m3. In terms of preliminary earthworks and mass grading, total excavation reached 10.4 million m3, total embankment and filling reached 8.6 million m3, and total clearing and grubbing reached 8.9 million m3.
Qiddiya’s site office complex in the site’s lower plateau has doubled in size in order to support more staff moving from the corporate offices in Riyadh, while a second site office complex on the upper plateau is also now under construction and expected to be completed by end of December 2020.
Qiddiya also aims to develop more strategic partnerships and to continue with heavy construction well into 2022 — making it ready for the testing and commissioning phase, ahead of its grand opening in 2023.