Japan firm wins Tadawul contract

Author: 
MD RASOOLDEEN | ARAB NEWS
Publication Date: 
Thu, 2010-02-25 01:04

Japanese architects will design a sustainable, smart office environment in the development project in the new financial heart of Riyadh. The project, valued at over SR1 billion, will be designed by the Japanese architect and world leader in sustainable design, Nikken Sekkei.
"This is a very forward-looking decision taken by Tadawul. The new stock exchange at the heart of the King Abdullah Financial District in Riyadh, will be a state-of-the-art building of the future," said Mitsuo Nakamura, chairman of Japan-based engineering consulting firm Nikken Sekkei which has secured the design and engineering consultancy contract for the new headquarters.
In conjunction with Tadawul, Nikken Sekkei has also undertaken to invite up to 10 Saudi nationals to work as short-term interns at their head office in Tokyo.
The King Abdullah Financial District is a multi-year project geared to consolidate the Kingdom's position as the Middle East's financial capital.
The district will be headquarters for the Capital Market Authority as well as Tadawul and for financial institutions and other service providers. Listed companies on Tadawul are worth about $319 billion, almost as much as the rest of the Arabian Gulf markets combined.
Nikken Sekkei, recognized as one of the world's largest architectural and engineering practices with in excess of 2,300 professional staff, won the design and engineering contract in a competition with 6 international companies out of 32 prequalified firms.
"Our sustainable design was chosen because it balanced construction value, sustainability and iconic design. In our design we strived to reflect the identity of Tadawul and incorporate several major energy saving technologies, complying with the latest Leadership in Energy and Environmental Design standards (LEED), the green building rating system, developed by the US Green Building Council (USGBC)," said Nakamura.
Nikken Sekkei revealed that the building's features would showcase a "sunlight scooper" introducing natural sunlight, photovoltaic panels to reduce energy consumption, solar shading to help reduce cooling, mirror ducts introducing natural light to basement levels and deep inside the building and dry mist cooling of exterior space. It will also include a cool pond to store cooled air at night to reduce the day time cooling load , high efficiency chillers and thermal storage and a cool trench to pre-cool fresh air with geothermal energy at lower levels
"We hope to improve cross-cultural values as well as long-term relationships," commented Fadi Jabri, general manager of Nikken Sekkei's Dubai office. "Nikken Sekkei has a long history of involvement with Saudi Arabia, including the design of the Islamic Development Bank in Jeddah in 1993."
 
 

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