Bidders line up to build Samba headquarters

02 March 2010

Saudi bank tower to be constructed in King Abdullah Financial District

Bids have been submitted by at least four companies for the main construction contract on the 39-floor headquarters of Saudi bank Samba at King Abdullah Financial District (KAFD). 

The bidders that submitted bids on 23 February include local contracting companies Saudi Oger, El-Seif Engineering & Contracting, Lebanon’s Arabian Construction Company (ACC), and the local affiliate of UAE-based Arabtec Construction, Arabtec Saudi Arabia.

The main construction contract involves building the structure and basic fit-out of the office building and three-storey car park. The total built-up area will be 110,000 square metres (sq m). Samba expects construction to start during the second quarter of 2010 with the final fit-out package being awarded once external construction is complete.

The main consultants working on the project are based in the UK. The architect is Foster + Partners, the engineer is Buro Happold and the consultant is Davis Langdon.

The project is just one of a series of towers planned for KAFD. The development will also have the headquarters of the Capital Market Authority (CMA) and the Saudi Arabian Stock Exchange (Tadawul).

In December, the CMA selected the local Saudi Binladin Group for the contract to build its headquarters.

The contractor will build a 400-metre-tall tower with three basement floors and 79 storeys above ground. The building will have a total built-up area of 185,000 sq m.

In February, the Tadawul appointed Japan’s Nikken Sekkei as the architect for its new tower at KAFD (MEED 7:2:10).

Other Saudi financial institutions are planning to build high-rise towers at KAFD including Alinma Bank, Al-Rajhi Bank, and the Public Investment Fund.

Located on a 1.6 million sq m site north of Riyadh, the KAFD will offer commercial and residential districts along with hospitality, retail and recreational facilities. KAFD is being developed by Al-Rayadah, which is the investment arm of the state-owned Public Pension Agency.

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