Saudi Arabia’s Qiddiya Investment Company (QIC) has selected the joint venture of local contractor El-Seif Engineering Contracting and UAE-based Alec for the contract to construct buildings around the racetrack at Qiddiya’s Speed Park. The initial scope of works is understood to be valued at about $1.9bn. Later works, which are still at the design stage, could take the final value up to SR15bn. The Speed Park will be built around a Federation Internationale de l’Automobile grade one racetrack as part of the resort core in Qiddiya Entertainment City. Once complete, the circuit will be capable of hosting Formula 1 Grand Prix and motorcycling MotoGP races. QIC had received bids from contractors for an estimated $500m-worth of roads, utilities and tunnels packages at the development. QIC had selected a joint venture of local contractor Saudi Real Estate Infrastructure Company (Binyah) and Qatar’s Infraroad Trading & Contracting Company to deliver the infrastructure works at Qiddiya’s resort core. In September, QIC selected a joint venture of local contractor Albawani and Qatar-based Urbacon Trading & Contracting Company to deliver the Water Park Hotel at Qiddiya’s resort core. The client is also evaluating bids for the main construction contract for a 5,300-seat e-games arena at its sports complex. The venue will provide space for local, national and international competitions. Work on the Qiddiya sports complex includes the construction of a stadium, a multi-sports hub, two golf courses, training facilities and an aquatic centre. (ICE RIYADH)

Fonte notizia: construction week