Saudi stock market tender to be issued by end of October

11 October 2011

Project will be located in King Abdullah Financial District in Riyadh

Contractors have been told they will receive tender documents by the end of October for the main construction package on the estimated SR1bn ($266m) Saudi Stock Exchange (Tadawul) tower at King Abdullah Financial District (KAFD) in Riyadh.

Contractors submitted prequalification entries on 29 June and are still waiting to receive tender documents for the project, which has been designed Japan’s Nikken Sekkei.

“The client has still to issue tender documents, but has said contractors will receive them by the end of October,” says a source in Riyadh.

The 40-storey tower development will cover a total area of 140,000 square metres and will be located at KAFD on the outskirts of Riyadh. The site will also contain a three-storey car park.

The UK-based Mace Group is the project manager for the stock exchange project.

Located on a 1.6 million sq m site north of Riyadh, the KAFD will offer commercial and residential districts along with hospitality, retail and recreational facilities. KAFD is being developed by Al-Rayadah, which is the investment arm of the state-owned Public Pension Agency.

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