Total value of Qiddiya's construction contracts crosses SAR2bn mark

The total value of all construction contracts awarded so far by Qiddiya Investment Company (QIC) on Saudi Arabia’s 366km2 Qiddiya gigaproject – the kingdom’s capital of entertainment, sports, and the arts – since construction on the gigaproject began a year ago, has reached $533.3m (SAR2bn), with 100% of the contracts awarded to Saudi companies.

The most recent contract, a three-year $293.3m (SAR1.1bn) agreement to construct major roads and bridges on the upper plateau of the site, was recently awarded to Haif & Freyssinet – a joint venture contract between the two local firms – allowing QIC to cross the $533.3m (SAR2bn) mark.

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