Local company wins second contract at Riyadh communications complex development
The local Rayadah Investment Company awarded the local Contracting & Construction Enterprises (CCE) a contract to build an estimated SR600m ($160m) data centre at its Information Technology & Communication Complex (ITCC) in Riyadh.
The ITCC development is located in the Nakheel district of Riyadh and is the kingdom’s first dedicated information technology (IT) park.
The Riyadh office of Al-Rajhi Projects & Construction won the largest contract, a SR2.59bn deal to build four 20-storey office towers. CCE was awarded a SR573m contract to build for a five-star hotel, with 270 rooms and a convention centre. The local Al-Yamama Company picked up the third deal, worth SR188m, to build housing.
The local El-Seif Engineering & Contracting has completed the SR243m infrastructure package for the communications complex.
Rayadah is developing the park in two phases. The first covers 500,000 square metres and will take more than five years to develop. Phase two will cover a further 300,000 sq m over an undisclosed timeframe.
Rayadah is the investment arm of the state-owned Public Pension Agency. It is also the client for a much larger scheme, the SR28bn King Abdullah Financial District, which comprises commercial towers along King Fahd Road to the north of Riyadh.
The district will house the Saudi Stock Exchange (Tadawul).
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