Saudi-Chinese JV Wins SAR1.15bn Qiddiya Stadium Deal

Oct 23, 2026

A Saudi-Chinese consortium has won a contract worth about SAR1.15 billion (around US$306 million) for the façade works at the planned Prince Mohammed bin Salman Stadium in Qiddiya City, outside Riyadh. The agreement was signed on 18 October 2026.

The winning consortium, IKK Fangda JV Co., is led by Shihui International Holdings, part of China Fangda Group, which holds a 51% stake, with Isam Kabbani & Partners, part of Saudi Arabia's IKK Group, holding the remaining 49%.

The contract covers the design, supply, and installation of curtain-wall façade systems for the main stadium, the museum, and ancillary buildings. Its value is reported at approximately SAR997 million excluding VAT, rising to between SAR1.147 billion and SAR1.15 billion including VAT. The works are scheduled to take 863 days.

Why it matters

The stadium is planned for Qiddiya City and is intended to host matches during the 2034 FIFA World Cup, with a capacity of more than 45,000 spectators. It is one of several major venues taking shape as the Kingdom prepares to welcome the world's biggest football tournament.

For residents in Riyadh and beyond, the project signals continued momentum in Qiddiya's development as a leisure and sports destination near the capital. The pairing of a Saudi contractor with an international partner also reflects the growing role of local-global joint ventures in delivering landmark infrastructure.

As the stadium is still under construction, no visitor ticket prices, operating hours, or public-access procedures currently apply. Saudi Living will share further details as the project progresses.

Stay updated with the latest news, events, sports updates, business insights, real estate and lifestyle stories on Saudi Living — the leading online platform for residents, expats, and visitors in Saudi Arabia.

Follow Saudi Living for daily updates: