The Diriyah Company in Saudi Arabia has picked China State Construction Engineering Corp (CSCEC) to build a $2bn, 14-sq-km urban quarter on the western outskirts of Riyadh.
Diriyah is developing the district with El Seif Engineering Contracting.
Diriyah said the district would have schools, cultural venues, offices and a luxury hotel.
“The agreement with CSCEC is a further example of the ever-closer economic ties and constructive business partnerships that are being built between Saudi Arabia and China,” said Diriyah chief executive Jerry Inzerillo.
Wei Chuanhai, the chief executive of CSCEC’s Saudi Arabia division, said that the contract was a “landmark opportunity … to build an extraordinary new city on the outskirts of Riyadh.”
Diriyah said the contract is the first major implementation of its delivery partnership procurement strategy, an approach that “fosters a collaborative environment among Diriyah and its main contractors, SMEs, manufacturers, and suppliers, ensuring efficient and effective project execution”.
Xinhua notes that the Diriyah development holds historical significance as the birthplace of the Kingdom of Saudi Arabia in 1727.
The chair of Diriyah’s board is Mohammed Bin Salman, the de facto ruler of Saudi Arabia.
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