Hill International has received a $6.6m one-year contract extension from the Public Pension Agency of Saudi Arabia to continue providing project management services in connection with development of the $7.8bn King Abdullah Financial District in Riyadh.
The King Abdullah Financial District is anticipated to be the biggest financial district in the Middle East and a strategic development for the city of Riyadh. The site is approximately 1.6m2 the development is expected to have floor space of over 3m2.
The Financial District is expected to be the headquarters for the Capital Market Authority, the Tadawul Stock Exchange and other major financial institutions, as well as a location for financial service providers such as accountants, auditors, lawyers, analysts, rating agencies, consultants and technology providers.
“We are honored to be part of this state-of-the-art development for doing business and facilitating investment both within the Kingdom and throughout the Middle East,” said Mohammed Al Rais, senior vice president and managing director (Middle East) for Hill’s Project Management Group. “We are proud of the confidence that the Public Pension Agency continues to entrust in our team,” added Al Rais.