Parsons says it has won a five-year contract with King Abdullah Financial District Development and Management Company (KAFD DMC) to lead the expansion of KAFD in “new, undeveloped land”.
KAFD features 1.6m sqm of state-of-the-art office space, world-class facilities, and luxury residences. Described as the first vertical city solution in Saudi Arabia, it comprises a 5-asset class mixed use living district, “a key driver of Riyadh’s economic ambitions and the world’s largest LEED-certified mixed-use financial district,” said Parsons.
Over the course of the next half-decade, the firm said it will provide comprehensive project and construction management services for developing commercial, hospitality, residential, municipal, and mixed-use buildings and the associated infrastructure to support the high-rise development.
Parsons said it is working with KAFD DMC to ensure all new buildings being constructed obtain LEED certification, including the first municipal fire station in the region to receive LEED Platinum certification. Further, Parsons is jointly engaged to manage the design and construction of water recovery and reuse facilities to supplement scarce resources for development.
Skyscrapers stand in the King Abdullah financial district in Riyadh, Saudi Arabia.
Confirming that Parsons is beginning the work to develop KAFD as both a prime business and lifestyle destination in the heart of Riyadh, Pierre Santoni, President, Infrastructure, EMEA, Parsons, said the firm was proud to support the Saudi government in the diversification of the district.
“As one of the largest real estate projects globally with a ground floor area of five million square meters, KAFD is a physical manifestation of Saudi Vision 2030. The KAFD eco-system embodies the core values that underpin the Kingdom’s sovereign goals,” he noted.
“While we are excited about the new construction and new buildings planned in KAFD, we remain steadfastly committed to reducing our carbon emissions,” added Gautam Sashittal, the CEO of KAFD DMC.
“To date, over 40 of our buildings – ranging from office towers to residential and landmark buildings—have received Silver and Gold LEED certifications. And we look forward to this next chapter with Parsons ensuring the sustainability of our built environment and its decarbonisation,” he concluded.