Construction

Tadawul evaluating bids for $266m tower

Saudi Stock Exchange Company still reviewing bids for main construction deal for tower project

Contractors submitted their bids last week to the Saudi Stock Exchange (Tadawul) Company for the mechanical, electrical and plumbing (MEP) contract for its estimated $266m Tadawul tower in the King Abdullah Financial District (KAFD) in the capital city, Riyadh.

The company is still reviewing bids for the main construction deal for the tower project. The 40-storey tower development will cover a total area of 140,000 m2 and will have a three-storey car park. Around 10 groups submitted bids on April 22 for the construction contract.

Tadawul has appointed UK-based Mace Group as the project manager for the tower, which was designed by Japan’s Nikken Sekkei.

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