Saudi Arabia's King Abdullah Financial District Development & Management Company (KAFD DMC) has awarded a five-year contract to US-based Parsons Corporation for project and construction management services at King Abdullah Financial District (KAFD). 

Under the agreement, Parsons will also support KAFD in its future expansion plans.

Located in Riyadh, KAFD is a mixed-use development managed by KAFD DMC, a wholly-owned subsidiary of the kingdom's Public Investment Fund (PIF).

The district was previously managed by Rayadah Investment Corporation.

KAFD includes several towers for which construction contracts were awarded in 2009. 

The project stalled when work was 70 per cent complete and then resumed in 2018 after the PIF took over the project from the Public Pension Agency in 2016-17.

Gautam Sashittal, CEO of KAFD DMC, said: "While we are excited about the new construction and new buildings planned in KAFD, we remain steadfastly committed to reducing our carbon emissions."

According to data from regional projects tracker MEED Projects, Parsons is involved in 93 projects in Saudi Arabia, including The Line at Neom, the Diriyah Gate project, Dahiyat al-Fursan, Oxagon, the Riyadh-Dammam high-speed rail link and the Saudi Landbridge project.