Qiddiya awards SR10bn in contracts to help construct Riyadh mega project

At least SAR10 billion worth of contracts will awarded to various companies to speed up the construction of a mega entertainment and sports project in the Saudi capital Riyadh, the Qiddiya Investment Company announced on Thursday. (QIC/File Photo)
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Updated 02 July 2020

Qiddiya awards SR10bn in contracts to help construct Riyadh mega project

  • The funding will be backed by the Kingdom's Public Investment Fund

RIYADH: At least SR10 billion ($2.66 billion) worth of contracts will be awarded to various companies to speed up the construction of a mega entertainment and sports project in the Saudi capital Riyadh, the Qiddiya Investment Company announced on Thursday.

The funding will be backed by the Kingdom's Public Investment Fund.

The Qiddiya project includes a number of art, entertainment and sporting facilities, and is being built on a 334 square-kilometre site close to Riyadh.

Its construction forms part of Saudi Arabia’s Vision 2030 program that aims to diversify the Kingdom’s economy.

“We’ve awarded well over 1 billion riyal in contracts so far and that figure is going to jump, maybe ten times to 10 billion riyals, which will all be construction related contracts,” Michael Reininger, chief executive told The National.


More than 250,000 people now recovered from COVID-19 in Saudi Arabia

Updated 08 August 2020

More than 250,000 people now recovered from COVID-19 in Saudi Arabia

  • Saudi Arabia’s health ministry announced 37 more deaths from COVID-19 and 1,469 new cases of the disease
  • A total of 3,130 people have succumbed to the virus in the Kingdom so far

LONDON: More than 250,000 people have now recovered from the novel coronavirus disease as the Kingdom announced 1,492 more recoveries on Saturday.
Saudi Arabia’s health ministry also announced 37 more deaths from COVID-19 and 1,469 new cases of the disease.
Of the new cases, 101 were reported in Riyadh, 61 in Madinah, 47 in Dammam and 47 in Jazan.
A total of 3,130 people have succumbed to the virus in the Kingdom so far.