Contractors have been invited to submit prequalification documents by the end of June for the main construction package on the estimated SR1bn ($266m) Saudi Stock Exchange (Tadawul) tower at King Abdullah Financial District (KAFD) on the outskirts of Riyadh.

The 40-storey tower development will cover a total area of 140,000 square metres. The site will also contain a three-storey car park.

UK-based Mace Group is the project manager. Japan’s Nikken Sekkei is the architect for the tower and Denmark’s Ramboll is providing environmental design services.

The building is designed to achieve a Leadership in Energy and Environmental Design (Leed) rating. As part of efforts to achieve the rating, Ramboll is looking to incorporate an advanced natural cooling and ventilation system. Other green design elements include mirrored ducts to introduce natural sunlight and solar shading to reduce the load on the cooling system.

Saudi financial institutions building high-rise towers at KAFD also include the Capital Market Authority (CMA) and the local Samba bank.

In December 2009, 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. Binladin is also building 20 mixed-use towers worth an estimated $3.7bn for the financial district.

In June last year, the local El-Seif Engineering & Contracting was awarded the estimated SR900m ($240m) contract to build a new headquarters for Samba. The 39-storey tower will cover a total built-up area of 110,000 sq m. The building was designed by UK architecture firm Foster & Partners (MEED 29:4:11).