At the recent Public Investment Fund’s (PIF) Private Sector Forum, The King Abdullah Financial District Development and Management Company (KAFD DMC) unveiled a series of groundbreaking partnerships and collaborations under the guidance of Chief Legal Officer Ayman Nasser Alawad (pictured). These strategic alliances underscore KAFD’s commitment to elevating its status as a premier business and lifestyle destination.
The forum witnessed KAFD awarding major contracts to five industry-leading private enterprises across diverse sectors, ranging from construction to hospitality and technology solutions. This development marks a significant milestone in KAFD’s ongoing renovation and development efforts.
As a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund, KAFD DMC oversees the development of the King Abdullah Financial District (KAFD), a landmark project driving Riyadh’s economic ambitions. Spanning 1.6 million square meters, KAFD is a mixed-use urban development designed to revolutionize urban living, working, learning, and leisure experiences. Notably, it is one of the world’s largest Platinum LEED-certified mixed-use business districts, strategically located just a short distance from King Khalid International Airport.
During the forum, KAFD DMC forged a partnership agreement with Advanced Communications & Electronic Systems Company (ACES), a Neutral Digital Infrastructure Company. ACES will establish a cutting-edge 4G and 5G telecom infrastructure, fostering a hyper-connected digital environment to empower the KAFD community and business ecosystem.
Additionally, KAFD DMC awarded three Design and Build contracts to the Mohammed Alrashid Trading & Contracting Company (MARCO) and MID Arabia, ensuring seamless integration with KAFD’s aesthetic vision. Source Machinery was tasked with developing Phases 1, 2, 3, and 4 of KAFD’s Area 6, while JASH TECHNICAL Services was commissioned to provide comprehensive community services for KAFD’s common use facilities.
Gautam Sashittal, Chief Executive Officer of KAFD DMC, emphasized the significance of these collaborations, highlighting their role in advancing urban excellence and realizing the ambitious goals of Saudi Vision 2030. These partnerships underscore KAFD’s dedication to growth, creating a thriving environment for businesses and residents while aligning with Saudi Arabia’s broader vision for a prosperous future.
In essence, these strategic alliances accelerate KAFD’s development, solidifying its pivotal role as a key enabler of Saudi Vision 2030 and showcasing the transformative power of public-private partnerships in driving economic growth and innovation.