التكنولوجيا وأخبارها بوابة مصر لأخبار تكنولوجيا المعلومات والإتصالات
With a focus on the customer experience
KAFD Seals New Partnerships at PIF Private Sector Forum
The King Abdullah Financial District Development and Management Company (KAFD DMC)
announced today a series of groundbreaking partnerships and collaborations at the second edition of
the Public Investment Fund’s (PIF) Private Sector Forum, held at the King Abdulaziz International
Conference Center in Riyadh on February 6th and 7th, 2024. The strategic alliances emphasize
KAFD’s commitment to enhancing the development and experience of KAFD as a world-class business
and lifestyle destination.
The Forum, which seeks to support nation-wide private sector engagement and strengthen the
Kingdom’s economy, witnessed KAFD awarding several major contracts for five industry-leading,
private enterprises across diverse sectors, from construction to hospitality and technology solutions,
marking a significant milestone in the ongoing development and renovation works at KAFD.
KAFD DMC is a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund and oversees the
development of the King Abdullah Financial District (KAFD) – a landmark project and a key driver of
Riyadh’s economic ambitions. Set in the heart of the capital, KAFD is home to 1.6 million square
meters of mixed-use urban development, designed to transform the way urban communities live,
work, learn, and play. Located just a 22-kilometer drive from King Khalid International Airport, KAFD
is the world’s largest Platinum LEED-certified mixed-use business district.
During the two-day forum, KAFD DMC and Advanced Communications & Electronic Systems Company
(ACES), a Neutral Digital Infrastructure Company signed a partnership agreement. ACES as Neutral
Host Service provider will build a state-of-art 4G and 5G telecom infrastructure, support all mobile
operators and provide seamless connectivity for all tenants and residents, visitors, and businesses
alike, fostering a hyper-connected digital infrastructure environment which will empower the KAFD
community and its business ecosystem.
Cementing its development trajectory, KAFD DMC awarded three Design and Build contracts to the
Mohammed Alrashid Trading & Contracting Company (MARCO) which will undertake the
comprehensive design, procurement, construction, testing, commissioning, and handover of works for
Buildings 3.01, 3.02, 3.06, and the rooftop area of Building 3.11, in addition to two sky bridges; and
MID Arabia stepping in to complete the fit-out works for a lifestyle hotel, ensuring seamless
integration with KAFD’s aesthetic vision.
Meanwhile, Source Machinery were awarded two contracts to embark on the development of Phases
1, 2, 3, and 4 of KAFD’s Area 6, laying the groundwork for future expansion plans, while JASH
TECHNICAL Services L.L.C. was commissioned to provide comprehensive community services for
KAFD’s common use facilities.
Commenting on these latest collaborations, Gautam Sashittal, Chief Executive Officer of KAFD DMC,
said: “The partnerships announced represent a powerful testament to the power of collaboration
between the public and private sectors in Saudi Arabia.” He added: “These agreements not only
double down our commitment to urban excellence but essentially demonstrate the critical role
private-sector expertise plays in realizing the ambitious goals of Saudi Vision 2030. At KAFD, we have
experienced firsthand the transformative impact of collaborating with dedicated and innovative
private entities. We are thrilled to be joining forces with these industry giants and we are incredibly
keen to continue seeking out partnerships with organizations that share our vision for the future of
the Kingdom and KAFD. These collaborations bring us closer to what KAFD is always meant to be: a
vibrant hub of innovation, business growth, and sophisticated urban living not just for Riyadh, but for
the entire Kingdom.”
This constellation of partnerships not only accelerates the development of a smart, dynamic KAFD but
demonstrates KAFD’s dedication to forging strategic alliances that contribute to the district’s growth
and creating a thriving environment for businesses and residents. At the same time, these
collaborations solidify the district’s role as a key enabler of Saudi Vision 2030. KAFD acts as a
microcosm of Vision 2030 in action, demonstrating the power of public-private partnerships to unlock
potential and propel Saudi Arabia towards a prosperous future.
