Contractors secure contract for Qiddiya Formula 1 Park
Qiddiya Entertainment City in Saudi Arabia is set to witness
the construction of Speed Park, centered around an FIA (Federation
Internationale de l'Automobile) grade one racetrack, following the selection of
a local contractor, El-Seif Engineering Contracting, in partnership with
UAE-based Alec.
The initial scope of the project is estimated to be valued
at approximately SR7 billion ($1.9 billion), with potential future developments
still in the design phase that could elevate the total value to SR15 billion.
Speed Park is poised to become an integral part of the
resort core within Qiddiya Entertainment City, featuring a state-of-the-art
racetrack capable of hosting prestigious events such as the Formula 1 Grand
Prix and MotoGP races.
Saudi
Arabia's Qiddiya awards $610 million contract to Al Akaria subsidiary
Qiddiya Investment Company (QIC) is actively progressing
multiple components of its ambitious Qiddiya Entertainment City project.
Earlier reports from MEED indicated that QIC had received contractor bids for
projects totaling around $500 million, encompassing roads, utilities, and
tunnel packages within the development.
In a separate announcement last month, QIC had chosen a
joint venture between local contractor Saudi Real Estate Infrastructure Company
(Binyah) and Qatar's Infraroad Trading & Contracting Company to execute
infrastructure works valued at SR2.29 billion, encompassing packages three,
four, and seven, which involve the construction of roads, bridges, and utility
networks.
Joint
venture awarded contract for Qiddiya Water Park Hotel
Additionally, another joint venture, comprised of local
contractor Albawani and Qatar-based Urbacon Trading & Contracting Company,
was selected by QIC in September to undertake the construction of the Water
Park Hotel situated at Qiddiya's resort core.
Furthermore, the client is currently evaluating bids for the
primary construction contract of a 5,300-seat e-games arena within its sports
complex, intended to serve as a venue for local, national, and international
gaming competitions.
The comprehensive Qiddiya sports complex project encompasses
the construction of a stadium, a versatile multi-sports hub, two golf courses,
dedicated training facilities, and a modern aquatic center.
Source: meed.com
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