Contractors have been invited to submit bids by 25 March for the main construction package on the estimated SR1bn ($266m) Saudi Stock Exchange (Tadawul) tower at King Abdullah Financial District (KAFD) in Riyadh.

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

The mechanical, engineering and plumbing (MEP) contract for the stock exchange tower is being tendered as a separate package. Contractors were invited in November to submit an expression of interest for the MEP deal and are waiting for the client to issue tender documents.

UK-based Mace Group is the project manager for the stock exchange scheme. The tower was designed by Japan’s Nikken Sekkei.  KAFD is being developed by Al-Rayadah, which is the investment arm of the state-owned Public Pension Agency.

Al-Rayadah is also planning to tender an estimated $300m science museum and aquarium at the financial district by the end of the first quarter of 2012. The science museum and national aquarium have been designed by US-based Cambridge Seven Associates. The museum will be linked to a geo-climate centre and both buildings will be located in the central area of KAFD.

KAFD is located on a 1.6 million sq m site north of Riyadh and will offer commercial and residential districts along with hospitality, retail and recreational facilities. The financial district is one of the largest megaprojects currently under construction in the kingdom, with more than $6.2bn-worth of construction contracts having already been awarded on the scheme.