Riyadh, Saudi Arabia- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a 5-year contract by the King Abdullah Financial District Development and Management Company (KAFD DMC) for project and construction management services in Saudi Arabia’s prime business and lifestyle destination, the King Abdullah Financial District (KAFD). The contract supports the expansion of KAFD in new, undeveloped land.
Located in the heart of Riyadh, the capital of Saudi Arabia, KAFD features 1.6 million square meters ostate-of-the-art office space, world-class facilities, and iconic luxury residences designed to transform how urban communities live, work, and play. It is the first vertical city solution in Saudi Arabia, comprising a 5-asset class mixed use living district, a key driver of Riyadh’s f economic ambitions and the world’s largest LEED-certified mixed-use financial district. KAFD is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC).
Pierre Santoni, President, Infrastructure, EMEA at Parsons, said: ‘‘As one of the largest real estate projects globally with a ground floor area of five million square meters, KAFD is a physical manifestation of Saudi Vision 2030.” He added: “The KAFD eco-system embodies the core values that underpin the Kingdom’s sovereign goals. Parsons is proud to support the government with this development and contribute to the growth and diversification of the district.’’
With a regional team of more than 6,000 employees, Parsons brings deep domain expertise across urban development, smart mobility, asset management, design, sustainability, and landscape architecture.
