A Saudi-Chinese joint venture has secured a SAR 1.15 billion contract, roughly USD 306 million, to deliver the curtain-wall façades of Prince Mohammed bin Salman Stadium in Qiddiya City, southwest of Riyadh.
The award went to IKK Fangda JV Co., a partnership in which Shihui International Holdings, part of China Fangda Group, holds a 51% stake, while Saudi-based Isam Kabbani & Partners holds the remaining 49%. The scope covers the design, supply, and installation of the façade systems for the main stadium, the museum, and the ancillary buildings.
The contract value includes VAT; excluding VAT it stands at approximately SAR 997 million. The execution period for the works is set at 863 days.
Why it matters
The stadium is one of the venues planned to host matches during the 2034 FIFA World Cup, which Saudi Arabia will stage. Its main construction contract is valued at around SAR 15 billion, making it a flagship project within the wider development of Qiddiya, the entertainment, sports, and culture destination rising southwest of the capital.
For residents in Riyadh, the project reflects the accelerating pace of large-scale development across the city and the growing role of international partnerships in building the facilities that will host major global events in the years ahead.
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