Saudi Arabia's King Abdullah Financial District Development & Management Company (KAFD DMC) has awarded Taj Dhabi, a subsidiary of UAE-based Trojan Construction Group, a contract to build two new developments at King Abdullah Financial District in Riyadh.

The design-and-build contract covers the construction of two commercial complexes of eight floors each.

The development will also include a retail podium covering a gross area of 167,763 square metres.

In August, KAFD DMC awarded a five-year contract to US-based Parsons Corporation for project and construction management services at 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.