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Qiddiya awards construction contracts worth over SAR 2bn

Qiddiya awards construction contracts worth over SAR 2bn
Qiddiya’s Master Plan.

Riyadh – Mubasher: Qiddiya Investment Company (QIC) said it has so far awarded construction contracts worth more than $533.3 million (SAR 2 billion) since construction on Saudi Arabia’s 366km2 Qiddiya gigaproject began a year ago, with 100% of the contracts awarded to Saudi companies, Saudi Press Agency (SPA) reported on Thursday.

This comes after a three-year $293.3 million (SAR 1.1 billion) agreement to construct major roads and bridges on the upper plateau of the site was recently awarded to Haif & Freyssinet, a joint venture (JV) contract between the two local firms.

Chief Development Officer at QIC, Kareem Shamma, said crossing the SAR 2 billion mark for construction contracts is an important milestone that reflects the company’s continuous commitment to building the kingdom’s capital of entertainment, sports, and the arts.

Speaking on the obstacles faced by various sectors due to the coronavirus pandemic, he said the company was able to maintain its vision and that it received continuous and complete support from the Saudi government to remain on the right track and complete the project on time.