The Qiddiya Investment Company (QIC) out of Saudi Arabia is planning on awarding at least $2.66bn worth of contracts to various companies to move construction ahead on a giga-project in Riyadh.
“We’ve awarded well over 1bn’s worth of riyals on contracts so far and that figure is going to jump, maybe 10 times to 10 billion riyals, which will all be construction related contracts,” QIC CEO Michael Reininger told The National.
“We just awarded one of the major road contracts and are receiving major contract bids for the entirety of our utility system,” added Reininger. “We have strings of things that are coming up between now and the end of the year.”
The Qiddiya project is on course to become the most iconic entertainment destination in Saudi Arabia and the world’s largest entertainment city in the world, becoming even larger than Walt Disney World in Florida. Construction on site has continued despite the crisis and effects of coronavirus and the project is due to be completed in 2023.
