meed-logo

line1 line2 line3
SIGN IN / REGISTER

Field report: Riyadh

5 May 2023

 

Register for the MEED.com guest programme 

Contracts worth over $2.7bn have been awarded in Riyadh Province so far this year. 

MEED field researchers visited Riyadh in mid-April to monitor the progress on construction projects including Diriyah Gate, King Salman International Park and Riyadh Sports Boulevard.

The team also called in on two of Saudi Entertainment Ventures' (Seven's) entertainment complexes and several National Housing Company housing schemes, among other projects.

DIRIYAH GATE

At the Diriyah Gate project, construction works are progressing on the digital arts centre Diriyah Art Futures and Heritage Five Star hotel in Samhan district.

MEED researchers were able to get visuals of Diriyah Gate's now-completed restaurant complex, Bujairi Terrace.


Opened in December 2022, Bujairi Terrace comprises 21 restaurants over a 15,000 square-metre area

Elsewhere, construction works have started on the Ministry of Culture's headquarters building at Diriyah, while the site preparatory works are under way at the Northern Cultural District P3 car park, where the ground-breaking ceremony took place recently.

Local/Chinese team begins underground main spine tunnel roundabout base slab works

Structural works are under way at Saudi Electricity Company's Diriyah 380/132/13.8kV substation and the super basement project, which WeBuild is delivering.


Diriyah Development Company's three-floor super basement car park will serve the mixed-use Diriyah Square district, which will include leisure and entertainment, hotels, retail, grade A offices, the King Salman Grand mosque and residential units designed in the traditional Najdi architectural style

KING SALMAN INTERNATIONAL PARK

Structural works are progressing well at the Royal Art Complex, the single biggest project in execution by value at King Salman International Park so far. Modern Building Leaders won the contract, worth $1.3bn, to build the project in 2022.


In addition to the Royal Art Complex, the 1,300-hectare masterplanned King Salman Park project includes a national theatre, museums, galleries, a golf course, and spaces for commercial, hospitality and residential components

Construction on the main tunnels and bridges project continues, with the bridge structure now in place. A joint venture (JV) of Consolidated Contractors Company and El-Seif Engineering Contracting Company is executing the project, which is scheduled for completion in the fourth quarter of 2024.


King Salman Park was launched by King Salman in March 2019, alongside the Green Riyadh, Riyadh Art and Riyadh Sports Boulevard projects

RIYADH SPORTS BOULEVARD

The construction works are ongoing at almost all of the packages for Riyadh Sports Boulevard.

The projects currently in execution at the Riyadh Sports Boulevard include King Abdul-Aziz underpass package 8 and Abu Bakr underpass package 9, Zone 1A, Zone 1B, Zone 2A, Zone 5A, Zone 6: Package A, B, C, D, E and Cycling Bridge.


Riyadh Sports Boulevard – Package 5 Arts District. There are eight districts in total, with districts for entertainment, athletics and sports also planned

SEVEN ENTERTAINMENT COMPLEXES

The structural works are under way at Seven's Al-Hamra entertainment complex (Exit 10), for which Al-Futtaim Engineering has been appointed as the mechanical, electrical and plumbing (MEP) contractor.

Exit 10 is at the most advanced stage of construction out of the 21 planned entertainment complexes in 14 cities across the kingdom.

Meanwhile, early works proceed apace at Seven's Al-Nahdah entertainment complex (Exit 15) project. Consolidated Contractors Company is delivering the project.


Seven is owned by the Public Investment Fund and was formed in December 2017 as part of Riyadh’s push to localise Saudi spending on entertainment under the mandate of Vision 2030

Elsewhere in Riyadh, the client is delivering the housing units for Roshn's Sedra District community homes phase 1A, package 1. Indian contractor Shapoorji Pallonji is carrying out the construction works, which are in the finishing stages.


Located northeast of the Saudi capital, Sedra will consist of over 2,100 residential units, along with public parks, entertainment areas, retail, coffee shops and restaurants, community centres, schools, sports facilities and health care facilities

National Housing Company (NHC) is well on track with building its housing schemes in Riyadh. The infrastructure works are currently under way at the Dahiyat al-Fursan phase 1 project in the north of Riyadh. The work is being carried out by Al-Omaier Trading & Contracting.

Likewise, construction works are at advanced stages at NHC’s Al-Mashraqiya housing complex as well as for several of the packages at the Murcia complex, most notably Narges View, Rabieh Housing, Saraya al-Gwan, Asalah al-Gwan, Rawa Housing and the Al-Muhannadiya complex.


National Housing Company's Al-Mashraqiya housing complex, where construction is at an advanced stage

The foundation works are in progress at Shomoul Holdings’ The Avenues Riyadh project. 

The project is one of the largest commercial malls in the Middle East and includes multiple districts such as Prestige, Grand Avenue, The Souk, The Mall, Electra, Oasis, Grand Plaza, The Forum and The Walk. Nesma & Partners won the project's main construction contract, worth $1.76bn, in 2021.

There is no construction activity at the Mall of Saudi project site. MEED exclusively reported this week that the Dubai-based developer Majid al-Futtaim (MAF) had put the plans for its estimated SR6bn ($1.6bn) project in Riyadh on hold.

By Yasir Iqbal, research manager MEED.com | MEED Projects | MEED Insight

https://image.digitalinsightresearch.in/uploads/NewsArticle/10817164/main.gif
MEED Editorial

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Contractor wins $218m Aramco-backed logistics hub deal

    7 May 2026

     

    Saudi Amana, the local affiliate of UAE-based construction firm Group Amana, has won an estimated SR820m ($218m) contract to build a logistics complex at King Salman Energy Park (Spark) in Saudi Arabia's Eastern Province.

    Asmo, the logistics joint venture of Saudi Aramco and DHL Supply Chain, awarded the contract.

    Asmo received the main contract bids on 18 March, as MEED reported.

    Al-Khobar-based engineering firm House of Consulting Office is the project consultant.

    In February, Asmo signed an agreement with Bahrain‑headquartered Arcapita Group Holdings to deliver the project at Spark.

    The project will feature a 43,000-square-metre (sq m), temperature-controlled Grade A warehouse; more than 3,000 sq m of offices and staff amenities; 5,300 sq m dedicated to chemicals storage; and an open yard covering about 1.2 million sq m.

    Planned for large-scale industrial use, the site is expected to incorporate advanced warehouse and building management systems, end-to-end digital connectivity, automation and robotics.

    It will also be developed in line with internationally recognised sustainability standards, featuring solar photovoltaic readiness, electric-vehicle charging infrastructure and a target of Leed Gold certification.

    The development aims to support the next stage of Saudi Arabia’s logistics and supply chain expansion.

    Under the deal structure, Arcapita will provide funding and retain ownership of the asset, while Asmo will develop the facility and then lease and operate it under a 22-year occupational lease.

    According to a statement, “the scheme will be executed via a forward-funding model, underscoring a long-term commitment to national infrastructure”.

    Asmo added that this will be its first purpose-built logistics centre and one of four strategic locations planned to anchor its nationwide logistics network, aligned with the National Transport and Logistics Strategy under Saudi Vision 2030.

    READ THE MAY 2026 MEED BUSINESS REVIEW – click here to view PDF

    Global energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.

    Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here

     

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16715420/main.jpg
    Yasir Iqbal
  • Kuwait postpones bid deadlines for four downstream oil tenders

    7 May 2026

     

    Kuwait has extended bid deadlines for four tendered contracts that are all focused on the country’s Mina Al-Ahmadi (MAA) refinery.

    The contracts include a project that has been tendered by state-owned downstream operator Kuwait National Petroleum Company (KNPC) to upgrade water transmission and storage infrastructure at the refinery.

    The contract will use the engineering, procurement and construction model and the tender was originally issued in October 2025 with an initial bid deadline of 4 January 2026.

    The tender has already seen several extensions and the latest rescheduling has set the bid deadline back from 19 April 2026 until 10 May 2026.

    The project is expected to take two years to complete and its scope is focused on expanding water storage capacity at the facility, either through extending existing tanks or building new tanks.

    The winning bidder will also be responsible for developing associated infrastructure and upgrading related systems that transport desalinated water to the refinery, such as pipelines and other infrastructure.

    In its 2024-25 annual report, KNPC said the project will help to meet demand for water at the facility’s refining and gas production units.

    The other three contracts are all maintenance contracts, which were also tendered by KNPC and have had their bid deadlines extended until 30 June 2026.

    The first of these is focused on mechanical maintenance of the Clean Fuel Project (CFP) units at the facility, as well as gas liquid production facilities.

    The CFP units were added to the refinery as part of the $16bn CFP, and were brought online in 2021.

    The project aimed to increase Kuwait’s capacity to produce low-sulfur fuels and, as part of the project, the MAA refinery was integrated with Kuwait’s Mina Abdulla (MAB) refinery.

    The project increased the capacity of MAB to 454,000 barrels a day (b/d) and the MAA refinery to 346,000 b/d.

    The second maintenance contract is focused on the mechanical maintenance of refining and production units at the MAA facility. The third contract is focused on workshop maintenance at the facility.

    The MAA refinery has been hit in several attacks during the US and Israel's war with Iran, which started on 28 February 2026.

    The full extent of the damage to the facility is currently unclear.

    Last month, MEED revealed that state-owned oil companies in Kuwait have fast-tracked the award of contracts to repair damage to infrastructure in the oil and gas sector.

    To expedite the award of contracts, deals were directly negotiated with trusted contractors without public tenders.

    The contracts were negotiated by senior officials at Kuwait Petroleum Corporation subsidiaries including Kuwait Oil Company and KNPC, sources said.

    It is not known whether any of these contracts related to repairs at the MAA refinery.

    READ THE MAY 2026 MEED BUSINESS REVIEW – click here to view PDF

    Global energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.

    Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here

     

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16715383/main.jpg
    Wil Crisp
  • Oman signs exploration agreement for methane hydrates

    7 May 2026

    Oman’s Ministry of Energy & Minerals (MEMR) has signed an agreement with Victarens Global Energy for the exploration of methane hydrates in Block 83 in the sultanate.

    Under the agreement, Victarens Global Energy will perform a study of Block 83, which spans approximately 11,000 square kilometers onshore Oman, over an initial period of two years, extendable for an additional two years based on the outcomes of the studies.

    “This step marks the first initiative of its kind in the sultanate to assess the potential of gas production through non-conventional methods, contributing to the diversification and sustainability of energy sources,” the MEMR said in a statement.

    The agreement was signed in Muscat by Salim Bin Nasser Al-Aufi, Oman’s Energy & Minerals Minister, and Kenan Issa, CEO of Victarens Global Energy.

    The project will be implemented in two main phases. The initial investment for the first phase is estimated at approximately $20m, while the second phase is expected to require around $200m, “reflecting the strategic importance of this project in exploring non-conventional energy resources”, the MEMR said in a statement.

    ALSO READ: Oman awards manganese exploration concession deal

    The scope of work on the first phase includes geological studies, analysis and reprocessing of existing geophysical data, and carrying out new seismic surveys to determine the volume and thickness of methane hydrate layers within the study area.

    Based on the results of this phase, the project will proceed to the second phase, which involves installing extraction equipment and testing the feasibility of commercial production.

    Should the project demonstrate economic viability for methane hydrate production, negotiations will be conducted between the MEMR and the company to establish a long-term agreement, including the commercial terms and profit-sharing mechanisms that ensure mutual benefits for both parties.

    “This agreement aims to explore and assess methane hydrate resources, supporting the adoption of advanced technologies in the energy sector and reinforcing the transition toward future energy sources, while promoting innovation and sustainability in the utilisation of natural resources. The agreement aligns with the objectives of Oman Vision 2040, which focuses on economic diversification, the development of the energy sector and strengthening the sultanate’s position as a regional hub for energy and advanced technologies,” the MEMR statement added.

    READ THE MAY 2026 MEED BUSINESS REVIEW – click here to view PDF

    Global energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.

    Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here

     

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16703851/main1050.jpg
    Indrajit Sen
  • Dubai advances Auto Market construction

    6 May 2026

     

    The construction works on the Dubai Auto Market, which is set to become one of the world’s largest and most advanced automotive trading hubs, are progressing.

    Enabling works are under way, being carried out by local contractor Rad International Road Construction.

    US-based engineering firm Aecom is serving as the project consultant.

    In November last year, Dubai Municipality signed a partnership agreement with DP World’s Economic Zones division to establish and manage the market, as MEED reported. Under the agreement, DP World will provide integrated logistics and zone management services, including e-commerce and trade finance solutions.

    The Dubai Auto Market will span a 22 million-square-foot complex, to be developed by DP World. It is planned to include more than 1,500 showrooms, clustered workshop zones, warehouses and multi-storey parking facilities, alongside a convention centre, hotel, auction house, retail outlets, and food and beverage areas.

    The facility is designed to handle more than 800,000 vehicles a year, including new and used electric, hybrid and conventional models.

    The UAE’s construction industry is projected to expand by 5% in real terms in 2026, supported by rising foreign direct investment (FDI), growth in the construction sector and increased oil sector activity.

    According to the UAE’s Federal Competitiveness and Statistics Centre, construction value added rose by 8.8% year on year (YoY) in Q2 2025, following YoY growth of 7% in Q1 2025 and 10.8% in Q4 2024.

    The commercial construction sector is forecast to grow by 6.4% in 2026 and to record average annual growth of 4.9% from 2027 to 2030, supported by investment in tourism and hotel facilities.

    The industrial construction sector is expected to expand by 4.1% in real terms in 2026, then to average 4.4% annually from 2027 to 2030, supported by improved investment in manufacturing facilities.

    The infrastructure construction sector is projected to grow by 5.8% in real terms in 2026, before averaging 4.3% annual growth from 2027 to 2030, supported by the government’s focus on improving regional connectivity through road and rail development.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16700367/main.png
    Yasir Iqbal
  • Saudi Arabia extends bid deadline for solar projects

    6 May 2026

     

    Saudi Arabia’s principal buyer, Saudi Power Procurement Company (SPPC), has extended the deadline for developers bidding for four solar projects under the seventh round of the National Renewable Energy Programme (NREP).

    Round seven of the NREP comprises solar photovoltaic (PV) and wind independent power producer (IPP) projects with a combined capacity of 5,300MW. The renewables programme is being led and supervised by the Ministry of Energy.

    The four solar PV projects comprise:

    • 1,400MW Tabjal 2 solar PV IPP (Tabrijal, Al-Jouf province)
    • 600MW Mawqqaq solar PV IPP (Mawqqaq, Hail province)
    • 600MW Tathleeth solar PV IPP (Tathleeth, Aseer province)
    • 500MW South Al-Ula solar PV IPP (Al-Ula, Medina province)

    The projects were tendered in January, with an initial bid submission deadline of 30 April.

    The new deadline is 30 June.

    The solar projects are the latest in a string of large-scale power and water developments across the region to have bidding extended in recent weeks.

    In the UAE, the bid deadline for the seventh phase of Dubai Electricity & Water Authority’s Mohammed Bin Rashid Al-Maktoum Solar Park was recently pushed back to 1 July. 

    Bids for the 1,300MW Bilgah and 900MW Shagra wind IPPs are currently still due by 14 May, according to a source.

    In January, MEED reported that 16 developers qualified to bid as both managing and technical members for the four solar PV projects under the seventh round of the NREP.

    These include:

    • Abu Dhabi Future Energy Company (Masdar) 
    • Alfanar Company (Saudi Arabia)
    • Al-Gihaz Holding Company (Saudi Arabia)
    • EDF Power Solutions (France)
    • Kahrabel (Engie) (UAE / France)
    • Sembcorp Utilities (Singapore)
    • Jinko Power (HK) (China)
    • TotalEnergies Renewables (France)
    • Al-Jomaih Energy & Water (Saudi Arabia)
    • Korea Electric Power Corporation (Kepco) (South Korea)
    • Nesma Renewable Energy (Saudi Arabia)
    • Korea Western Power (South Korea)
    • Marubeni Corporation (Japan)
    • SPIC Shanghai Electric Power (China)
    • WahajPeak Holdings (Saudi Arabia)
    • FAS Energy for Trading Company (Saudi Arabia)

    A further six companies qualified to bid as a managing member only for the solar PV projects. These include:

    • Saudi Electricity Company (Saudi Arabia)
    • Grupo Empresarial Enhol (Spain)
    • Power Construction Corporation of China (Power China) (China)
    • GD Power Development (China)
    • Gulf Development Public Company (Thailand)
    • Reliance NU Energies Private (India)

    The renewable energy programme aims to supply 50% of the kingdom’s electricity from renewable energy by 2030.

    Earlier rounds under the NREP have already put in place large capacities. Last October, SPPC awarded contracts to develop and operate five renewable energy projects under round six of the NREP.

    These comprise four solar PV IPP projects and one wind IPP project with a total combined capacity of 4,500MW.

    READ THE MAY 2026 MEED BUSINESS REVIEW – click here to view PDF

    Global energy sector forced to recalibrate; Conflict hits debt issuance and listings activity; UAE’s non-oil sector faces unclear recovery period amid disruption.

    Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here

     

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16700361/main.jpg
    Mark Dowdall