Qiddiya awards Speed Park race track contract

16 February 2024
The track will be capable of hosting Formula 1 Grand Prix and motorcycling MotoGP races


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Saudi Arabia’s Qiddiya Investment Company (QIC) has awarded local United Maintenance and Contracting Company (Unimac) an estimated SR1.8bn ($480m) contract to deliver the racetrack and associated infrastructure at Qiddiya’s Speed Park.

The scope of the contract includes the track build and all infrastructure works including electrical networks, storm drainage systems, water and sewer networks, landscape works, as well as associated underground and above ground structures and associated civil works.

The racetrack will meet the Federation Internationale de l’Automobile (FIA) and Fédération Internationale de Motocyclisme (FIM) requirements for homologation, including the required drainage systems, safety elements and race electronics.

It will be an FIA Grade 1 / FIM Grade A track at the resort core in Qiddiya Entertainment City. Once complete, the circuit will be capable of hosting Formula 1 Grand Prix and motorcycling MotoGP races.

In October last year, MEED reported that QIC selected the joint venture of local contractor El-Seif Engineering Contracting and UAE-based Alec for the contract to construct buildings around the racetrack at Qiddiya’s Speed Park.

The initial scope of works is understood to be valued at about SR7bn ($1.9bn). Later works, which are still at the design stage, could take the final value to up to SR15bn.

In October, QIC also selected the local Shibh al-Jazira Contracting to deliver the infrastructure beneath the racetrack including mass grading, earthworks and a tunnel.

Qiddiya projects

QIC is preparing to deliver several components of its Qiddiya Entertainment City project. 

In December, MEED reported that QIC appointed a joint venture of the local El-Seif Engineering Contracting and Beijing-based China State Construction Engineering Corporation (CSCEC) for the estimated SR2bn ($533m) contract to build the e-games arena.

MEED previously reported that QIC is preparing the estimated $500m-worth of roads, utilities and tunnels packages contract at the development.

In September, MEED reported that QIC had selected a joint venture of local contractor Saudi Real Estate Infrastructure Company (Binyah) and Qatar’s Infraroad Trading & Contracting Company to deliver the infrastructure works at Qiddiya’s resort core.

The two contracts, worth SR2.29bn, were awarded for packages three, four and seven, which include the construction of roads, bridges and utility networks.

The same month, QIC selected a joint venture of local contractor Albawani and Qatar-based Urbacon Trading & Contracting Company to deliver the Water Park Hotel at Qiddiya’s resort core.

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