UK and French firms confirmed for Riyadh stadium PPP
19 August 2025
UK-based consultancy EY-Parthenon and French engineering firm Egis are supporting Saudi Arabia’s Ministry of Sport (MoS), the National Centre for Privatisation & PPP (NCP) and the Riyadh Region Municipality in developing the Prince Faisal Bin Fahad Sports City in Riyadh.
MEED understands that EY-Parthenon is serving as the project’s lead and financial adviser, while Egis is acting as the technical adviser.
The project will be delivered as a public-private partnership (PPP) under a design, build, finance, operate and maintain model, with a contract duration of 20 to 30 years.
MEED reported earlier this month that Saudi Arabia had issued an expression of interest and request for qualifications notice for the development of the project.
The notice was issued on 14 August, with a submission deadline of 13 October.
The project involves constructing a stadium in the northern section of King Abdullah Park in the Al-Malaz area of Riyadh.
The stadium will have a seating capacity of about 47,000 spectators.
It will host major domestic and international football events, including matches during the 2034 Fifa World Cup.
The scheme is the first of several stadiums expected to be delivered on a PPP basis in preparation for the 2034 Fifa World Cup in Saudi Arabia.
In July, the MoS and NCP announced the winning bidders for the rights to own and operate three sports clubs in the kingdom.
The agreement marks the first time a foreign investor has owned a Saudi football club, with US-based investment firm Harburg Group winning ownership rights to Al-Kholood Football Club.
The club competes in the Saudi Pro League and is based in the city of Ar-Rass, in Al-Qassim province.
Riyadh-based firm Nojoom Al-Salam Holding will assume ownership of Al-Zulfi Football Club. The club is based in Al-Qassim province and competes in the Saudi First Division League, the second tier of the Saudi Arabian football league system.
Medina-based firm Awdah Al-Biladi & Sons acquired ownership of Al-Ansar Football Club. The club is based in Medina and plays in the Saudi Second Division, the third tier of Saudi Arabia’s football league.
Saudi PPP market
The value of PPP contracts in Saudi Arabia has risen sharply over the past two years, as the government seeks to develop projects through the private sector and diversify funding sources.
According to data from regional projects tracker MEED Projects, the value of PPP concession contracts hit an all-time high of $28.2bn in 2023, equivalent to more than 23% of the total value of all project contracts awarded that year. Although this figure fell to 18.3% last year, it was still far higher than the historical average in the kingdom.
The figures are even more striking when considering only government spending.
The value of signed PPP contracts totalled more than one-third of government or government-related project awards in 2023, and more than one-quarter in 2024. This compares to an average of 15.6% between 2019 and 2022, and just 3.5% in 2018.
Government contracts include awards made by ministries, municipalities and royal commissions, in addition to state-funded project clients such as the Saudi Water Authority, National Housing Company and Jeddah Airports Company. Subsidiaries of the sovereign wealth vehicle, the Public Investment Fund – such as Neom and Rua Al-Madinah – are also included.
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Dubai seeks consultants for drainage projects6 February 2026
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Modon tenders Ras El-Hekma construction contracts6 February 2026
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Egypt contractor secures €58m loan for Hungary power plant6 February 2026
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AD Ports signs Jordan Aqaba port PPP deal6 February 2026
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Chinese firm wins Ceer automotive supplier park deal6 February 2026
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The request for qualifications (RFQs) was issued by the municipality’s Sewerage and Recycled Water Projects Department (SRPD).
The bid submission deadline is 26 February.
The first scheme under the package is TF-16-C1, which involves upgrading and rehabilitating the stormwater system east of the Dubai Canal.
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READ THE FEBRUARY 2026 MEED BUSINESS REVIEW – click here to view PDFSpending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.
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Modon tenders Ras El-Hekma construction contracts
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Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.
MEED understands that the tenders were issued in January.
These include:
DP3 assets: covering 146 residential villas, 590 three-bedroom townhouses, 356 four-bedroom townhouses, a mall and other associated works.
Bids due on 23 February.
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DP7 assets: 120 five-bedroom villas, 230 seven-bedroom villas, 284 branded residential units and other infrastructural works.
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Modon has accelerated development works at Ras El-Hekma this year. In January, MEED reported that Modon Holding had awarded a E£15bn ($316m) contract for the construction of a project at Ras El-Hekma.
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As part of the first phase, Modon plans to develop more than 50 million square metres (sq m), including hotels and a marina.
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Last year, Abu Dhabi-based holding company ADQ appointed Modon Holding as the master developer for the Ras El-Hekma project.
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Modon Holding will develop the first phase of the project, which will cover 50 million sq m.
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Commercial International Bank Egypt (CIB) has provided €58m in credit facilities to local firm Elsewedy Electric for the construction of a combined-cycle gas turbine (CCGT) power plant in Hungary.
Located in Visonta, the plant will be the largest combined-cycle facility built in Hungary in decades and the country’s first power plant capable of using hydrogen.
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Abu Dhabi’s AD Ports Group has signed an agreement with Jordan’s Aqaba Development Corporation (ADC) to manage and operate the Aqaba multipurpose port.
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AD Ports will hold a 70% stake in the joint venture, with the remaining 30% held by ADC.
AD Ports Group will also invest AED141m ($38.4m) in the joint venture.
The signing ceremony was held at the Aqaba Special Economic Zone Authority headquarters in Aqaba on 5 February.
The agreement was signed by Hussein Safadi, CEO of ADC, and Ahmed Al-Mutawa, regional CEO of AD Ports Group.
Aqaba port handles about 80% of Jordan’s exports and 65% of its imports.
It serves as a key transit point for Jordan’s neighbouring countries, including Saudi Arabia and Iraq. The port has an annual handling capacity of 11 million tonnes, supported by nine berths, a quay length of 2 kilometres and a draft of 13.5 metres.
In 2025, the terminal handled over 5.3 million tonnes of cargo and nearly 85,000 car equivalent units of Ro-Ro imports.
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The Al-Madouneh customs centre covers about 1.3 million square metres (sq m) and was inaugurated in June last year.
The announcement followed AD Ports Group’s signing of a shareholders’ agreement in January 2024 between its digital arm, Maqta Gateway, and Jordan’s Aqaba Development Corporation regarding their existing joint-venture company, Maqta Ayla.
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Chinese firm wins Ceer automotive supplier park deal
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Beijing-headquartered Metallurgical Construction Corporation (MCC) has won a contract to undertake the steel structure works on the Ceer automotive supplier park in King Abdullah Economic City (KAEC).
The supplier park is located next to Ceer’s electric vehicle (EV) production facility in KAEC.
The automotive supplier park will include production and ancillary facilities for various suppliers and provide the material supply infrastructure for Ceer’s EV plant.
The facilities include:
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Earlier this week, MEED exclusively reported that Ceer had awarded a contract to build the automotive supplier park to Jeddah-based construction firm Modern Building Leaders (MBL).
Netherlands-based engineering firm Arcadis is the project consultant, and Pac Project Advisors is the project management consultant.
Ceer retendered the project in September last year.
The latest contract award is another significant contract win for MCC in Saudi Arabia. In January, MEED reported that MCC had won a contract to undertake the steel structure works on Mohammed Bin Salman Stadium at the Qiddiya City project on the outskirts of Riyadh.
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