Saudi PIF awards $2.1bn KAFD construction works contracts
CONSTRUCTION NEWS
Saudi Arabia's sovereign wealth fund, Public Investment Fund (PIF), has awarded contracts worth more than SR8 billion ($2.1 billion) for construction works at King Abdullah Financial District (KAFD), reported Arab News, citing a top official.
Most of the contracts were awarded to local companies, said Aiman Al-Mudaifer, PIF’s head of the Local Real Estate Division.
A key development, KAFD is coming up over a 1.6 million-sq-m area in the north of Riyadh. It will include offices of several financial institutions such as the Capital Market Authority and the Saudi Stock Exchange.
Several banks and companies started operations at KAFD, the official said, adding that some tenants received their units at the residential towers.
