The Diriyah Company in Saudi Arabia has picked China State Construction Engineering Corp (CSCEC) to build Saudi Arabia’s $2 Billion Mixed-use District, 14-sq-km urban quarter on the western outskirts of Riyadh. Diriyah is developing the district with El Seif Engineering Contracting.
“The agreement with CSCEC is a further example of the ever-closer economic ties and constructive business partnerships that are being built between Saudi Arabia and China,” said Diriyah chief executive Jerry Inzerillo. Wei Chuanhai, the chief executive of CSCEC’s Saudi Arabia division, said that the contract was a “landmark opportunity to build an extraordinary new city on the outskirts of Riyadh.”
Diriyah said the contract is the first major implementation of its delivery partnership procurement strategy, an approach that “fosters a collaborative environment among Diriyah and its main contractors, SMEs, manufacturers, and suppliers, ensuring efficient and effective project execution”.
Xinhua notes that the Diriyah development holds historical significance as the birthplace of the Kingdom of Saudi Arabia in 1727.
The chair of Diriyah’s board is Mohammed Bin Salman, the de facto ruler of Saudi Arabia.
Developers of the Saudi Arabia’s $2 Billion Mixed-use District
The joint venture contractors include Saudi Arabia-based El Seif Engineering Contracting (ESEC) and China State Construction Engineering Corporation (CSCEC), the company said in a statement.
It added that the project includes building a mixed-use district with advanced educational institutions, cultural sites, modern offices, and a luxury hotel, within the framework of the Diriyah Development, which represents the Kingdom’s most important historical and cultural destination, and one of the most prominent projects of Vision 2030.
Jerry Inzerillo, Diriyah Company Group CEO, said: “We are thrilled to announce the award of this major contract to build the exciting mixed-use district in the north of Diriyah. This represents a major step in our accelerating development strategy and commitment to making Diriyah a place for the world to be able to learn, absorb culture, and experience a vibrant and welcoming visitor destination.”
He continued: “The agreement with CSCEC is a further example of the ever-closer economic ties and constructive business partnerships that are being built between Saudi Arabia and China.”
Facilities that will be Developed
As revealed by Diriyah, the district would have schools, cultural venues, offices and a luxury hotel. For his part, Ahmed Al Bassam, CEO of ESEC, said: “We are enormously proud to continue our strategic partnership with the Diriyah Company and to be entrusted with a project of such importance in developing some of the highest profile assets within the Diriyah development area, and indeed across the Kingdom.”
In turn, Chuanhai Wei, Vice President of CSCEC Middle East General Manager at CSCEC KSA Branch, stated: “This contract marks another landmark opportunity for CSCEC to work once again with our strategic partners at El Seif Engineering Contracting Company and the Diriyah Company in building an extraordinary new city on the outskirts of Riyadh. We are delighted to be working on such a large-scale and ambitious project once more.”
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