The King Abdullah Financial District Development and Management Company (KAFD DMC) has awarded a 5-year contract to Parsons Corporation for project and construction management services in Saudi Arabia’s prime business and lifestyle destination, the King Abdullah Financial District (KAFD).
Located in the heart of Riyadh, KAFD features 1.6 million square meters of state-of-the-art office space, world-class facilities, and iconic luxury residences designed to transform how urban communities live, work, and play. It is the first vertical city solution in Saudi Arabia, comprising a 5-asset class mixed use living district, a key driver of Riyadh’s economic ambitions and the world’s largest LEED-certified mixed-use financial district.
With a regional team of more than 6,000 employees, Parsons brings deep domain expertise across urban development, smart mobility, asset management, design, sustainability, and landscape architecture.
Gautam Sashittal CEO – KAFD DMC,
“While we are excited about the new construction and new buildings planned in KAFD, we remain steadfastly committed to reducing our carbon emissions. To date, over 40 of our buildings, ranging from office towers to residential and landmark buildings, have received Silver and Gold LEED certifications. And we look forward to this next chapter with Parsons ensuring the sustainability of our built environment and its decarbonization.”
Mr. Pierre Santoni, President, Infrastructure, EMEA at Parsons, said that ‘‘As one of the largest real estate projects globally with a ground floor area of five million square meters, KAFD is a physical manifestation of Saudi Vision 2030. The KAFD eco-system embodies the core values that underpin the Kingdom’s sovereign goals. Parsons is proud to support the government with this development and contribute to the growth and diversification of the district.’’
On this project, Parsons will provide comprehensive project and construction management services for developing commercial, hospitality, residential, municipal, and mixed-use buildings and the associated infrastructure to support the high-rise development. Parsons is working with KAFD DMC to ensure all new buildings being constructed obtain LEED certification, including the first municipal fire station in the region to receive LEED Platinum certification. Further, Parsons is jointly engaged to manage the design and construction of water recovery and reuse facilities to supplement scarce resources for development.
Saudi Arabia has committed to reducing its emissions, pledging to reach net zero by 2060 and joining the Global Methane Pledge to cut methane emissions by 30 percent.
Parsons, with over 50 active projects in Saudi Arabia, has been a trusted partner in delivering critical infrastructure in Europe and the Middle East for over 65 years. Parsons first began working with KAFD, a Public Investment Fund (PIF) subsidiary, in 2018 and has worked on several projects in and around the financial district since then.
