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Old Posted Oct 16, 2010, 10:23 PM
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RIYADH l King Abdullah Financial District (KAFD) Towers & Developments | U/C

Riyadh / Kingdom of Saudi Arabia

King Abdullah Financial District

Follow the KAFD Thread in the Saudi Arabia SSC Forum:

It will be the Middle East's first financial district on a scale, and of regulatory and technological standards, to match the major global financial centres.
Explaining the background to the Kingdom's ambitious but attainable strategy, His Majesty said:

'We are blessed with a robust economy, a stable currency and a strong financial sector with equally strong supervision.'
The intention to construct the world's first major financial district of the twenty first century is the latest stage in what is already a carefully planned and implemented programme of financial modernisation by Saudi Arabia. It will follow the successful launch of:-

• Tadawul, one of the world's most technologically advanced stock exchanges;
• The Capital Market Authority, which has introduced international-class regulation to the capital market;
• And a host of other reforms such as the licensing of international banks, insurance and investment companies.

Saudi Arabia's financial district will be built close to the business centre of Riyadh. The site is 1.6 million square metres and the development will have floor space of over 3 million square metres. It will be a multi-year project during which Saudi Arabia - already the world's oil capital - will consolidate its position as the Middle East's financial capital.
The master plan for the King Abdullah Financial District will be completed by the end of the year. Construction will begin in 2007 and will create thousands of construction and related jobs over an intense three year period of building and development.
The King Abdullah Financial District is designed as a state-of-the-art and fully self contained centre for doing business and facilitating investment and enterprise in the Kingdom and, in due course, in the wider region.
Many of the world's major banks, financial institutions and professional service companies - already operating in Saudi Arabia - have indicated their intention to locate in the District in order to play a major part in the diversification of the world's major oil economy.
The King Abdullah Financial District will be the headquarters for the Capital Market Authority (CMA) and the Stock Exchange (Tadawul), and for financial institutions and other service providers such as accountants, auditors, lawyers, analysts, rating agencies, consultants, and IT providers.
His Excellency, Ibrahim Abdulaziz Al-Assaf, Minister of Finance, said:
'Our common goal in establishing a new financial district is to provide an attractive working environment for the growing number of Saudis working in the financial sector.'
The CMA has been designing the strategy underpinning the development of the District together with the Public Pensions Agency (PPA). One of the cornerstones of their strategy is the development of a public/private partnership.
His Excellency Jammaz Al-Suhaimi, Chairman of the CMA, said: 'We are working hard to strengthen and develop our capital market. The role of the King Abdullah Financial District will be to facilitate the financial sector's contribution to our national economic growth in every way we can.
'We will provide young people and others who want to learn with an opportunity to enhance their skills and develop their full potential to help deepen our financial markets. Thus, in addition to facilitating business and investment, a centerpiece of the District will be a new financial academy and conference facilities for financial services.
'The purpose of this new financial academy will be to enhance the skills, training, and capabilities of current and future generations to consolidate Saudi Arabia's position as the largest economy in the region.'
His Excellency H.E. Mr. Mohammed Bin Abdullah Al-Khrashi, Governor of the PPA, said
'The Public Pension Agency (PPA) sponsors investment projects that are beneficial to the equity of the pensioners, and help to support the financial revenues of the Agency. The Agency's investment in this project is in line with this policy. The Agency will own and develop the whole project, and will provide opportunity for the CMA and other government agencies such as SAMA, and other related companies, such as insurance companies, banks and financial services to find suitable locations and offices that are equipped with the world's modern technologies. It has already taken the necessary steps towards achieving this objective, and it expects that the project will create an excellent working environment that will attract excellent investment opportunities.'


Amazing Video of the Old render :

Video Link

new video showing 3 buildings

Video Link

new video showing 1 building

Video Link

Site tour through some of the KAFD

Video Link

Site tour of KAFD 07-19-10

Video Link


Old render of the area

Consultant Cyril Sweett has been appointed to work on the Crystalline tower in the King Abdullah Financial District in Riyadh for the Capital Market Authority.

The 385m tower will be the tallest of five towers in the financial plaza scheme.

The CMA will occupy the upper section of the tower whilst the remainder of the floors are to be leased to other world leading financial organizations and banks.

Cyril Sweett will be providing cost and project management services on the CMA Tower project, which is being designed jointly by HOK and Omrania & Associates.

The project is due to complete beginning of 2012.

Link: http://www.cnplus.co.uk/technical/ta...210935.article

IT will looks some what like this

can you imagine that all of theses buildings are under construction right now ! :

I hope all pictures are showing up . If not, try this : http://img214.imageshack.us/gal.php?...00901at952.jpg

new pix of world trade center-riyadh by gensler


GCC Bank Headquarters in Riyadh


Also positioned at the heart of the KAFD district, Parcel 1.14 is a new headquarters building that will offer state-of-the-art office and amenity space. Intended to be the home for the newly formed GCC Bank, the tower’s timeless architectural design has been specifically tailored for occupation by the Gulf region’s governing financial institution.

Pivotal to the scheme’s architectural expression is its highly contextual response to environmental requirements. It is clad in a distinctive copper/stainless steel shell, which protects the interior working environment from intense solar gain, significantly reducing energy loads whilst creating an elegant aesthetic response.

The buildings functional and spatial arrangements have been carefully considered to support the business activities of its occupier. The floor plates have been refined to effectively support contemporary working practices creating dynamic, collaborative areas adjacent to the Financial Plaza with discreet space for focus work and framed views of Riyadh’s cityscape..

Space highlights include double level lobby/skywalks, executive spaces at roof level with access to landscaped shaded roof terraces, the three sky-lobbies and amenity floors easily reached from any of the tower’s 53 stories.

Situated within the heart the Kingdom of Saudi Arabia’s new financial centre, the King Abdullah Financial District, Parcel 1.15 will be known as the KAFD World Trade Centre. Gensler were commissioned by the Riyadh Investment Company (owner) and Saudi Bin Laden Group (builder) after successfully winning an international design competition for the design of the tower. The World Trade Centre is scheduled for completion in November 2012.















Photos by engineer. irfan rashid


العساف: المشاريع القائمة في مركز الملك عبدالله المالي لم يحدث لها أي تأخير وتسير كما مخطط لها

عبدالله من الفهيد من الرياض
عقد مجلس إدارة المؤسسة العامة للتقاعد برئاسة وزير المالية الدكتور إبراهيم بن عبدالعزيز العساف اجتماعه (207) اليوم في مقر مشروع مركز الملك عبدالله المالي. وقام أعضاء المجلس بعد ختام الجلسة بجولة تفقدية للاطلاع على ما تم إنجازه من مراحل المشروع ، حيث أطلعوا على ما تم تنفيذه من المرحلة الأولى من المباني التي من المتوقع أن تكون جاهزة في شهر مايو القادم بإذن الله ، كما اطلعوا على مراحل تنفيذ المرحلة الثانية للمشروع التي من المتوقع أن تكتمل في شهر مارس 2012م.

واستمع المجلس إلى شرح مفصل من المهندسين السعوديين في المشروع حيث انطلقت معظم أعمال البنية التحتية والطرق ونظام التبريد ونظام القطار , وأن مراحل العمل تسير حسب الجدول الزمني المعتمد فيما يتعلق بمناطق الجذب ومواقف السيارات. وأبدى المجلس ارتياحه للمستوى الذي يتم بموجبه تنفيذ أعمال التشييد والبناء ، وحث المجلس إدارة المشروع على الاهتمام بسرعة التنفيذ واستكمال ما تبقى من مراحل المشروع حسب المواعيد المحددة لذلك.

وأكد وزير المالية في تصريح لوسائل الإعلام عقب انتهاء الجولة في المركز متابعة خادم الحرمين الشريفين الملك عبدالله بن عبدالعزيز لسير أعمال مشروع مركز الملك عبدالله المالي من ناحية متابعة التقارير الشهرية التي توضح ما تم إنجازه وتطويره شهراً بشهر. وبين أن المشاريع القائمة في المركز لم يحدث لها أي تأخير من الناحية الزمنية وتسير كما مخطط لها , وراهن على تميز المركز بعد انتهائه عالمياً من نواحي منها التصميم والبيئة العملية والنشاط الاقتصادي الموجود في المركز.

وأوضح الدكتور العساف انسيابية الحركة المرورية في المركز ومعالجة مشاكل السير ، حيث تم عمل ممرات من تحت الأرض وعمل ثلاث طرق رئيسية بالمركز من خارج المركز ، أما من داخل المركز فهناك وسائل نقل حديثه , بداية بإيقاف الشخص سيارته بالمواقف ويكون آخر عهده بها لوجود ثلاثة وسائل نقل وهي القطار المعلق والجسور المغلقة المرتبطة بالمباني من دون حاجة الشخص إلى الخروج أو المشي في الطرقات المخصصة للمشاة.

يذكر أن شركة الاستثمارات الرائدة " الذراع الاستثماري العقاري للمؤسسة العامة للتقاعد " تتولى الإشراف على تنفيذ هذا المشروع والمشاريع العقارية الأخرى للمؤسسة ويعمل بالشركة مجموعة من المهندسين السعوديين المؤهلين كما يساندهم اثنتان من الشركات العالمية المتخصصة في مجال إدارة المشاريع هما شركة " هيل أنترناشونال " وشركة " وهانمي بيرسون ".

ويحتوي المشروع على عدد من المباني الخاصة بالمكاتب الإدارية المجهزة بأفضل التجهيزات والمتطلبات المكتبية وكذلك مباني خاصة للمساكن حيث تبلغ نسبة المساكن حوالي 26% من مباني المشروع ، ويوجد في المشروع ثلاث فنادق خمس نجوم لرجال الأعمال تديرها شركات خدمات فندقية متميزة إضافة إلى مباني الخدمات المساندة الأخرى ومباني الجهات الحكومية الخاصة بالأمن والدفاع المدني.

ويتوفر في المشروع سبعة مساجد إضافة إلى مناطق الجذب والترويح مثل منتزه الوادي وحوض الأسماك وصالة العرض ومتحف العلوم ومتحف الأطفال التفاعلي والمرافق التعليمية الأخرى ويسير العمل حالياً في المشروع على مدار الساعة ويبلغ عدد العمالة في المشروع حوالي ثلاثة عشر ألف عامل ومن المتوقع أن يرتفع العدد إلى خمسة وعشرين ألف عامل في منتصف العام القادم.


Last edited by GulfArabia; Nov 9, 2010 at 7:12 AM.
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Old Posted Oct 17, 2010, 12:15 AM
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I just wish there was a site plan available for this development.
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Old Posted Oct 17, 2010, 1:25 AM
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^^ we are waiting for that too .....


Project facts
Location: Riyadh, Saudi Arabia
Client: RIC
Year of design: 2009 - 2010
Type of assignment: Winner of international competition
Number of bridges: 61 (to be extended to 97)

The Sky walks are designed by : Henning Larsen

The vision behind Henning Larsen Architects’ masterplan for the new financial district in Riyadh is to create a modern, sustainable city based on a minimum of private motoring.

From the decentralised parking garages, a monorail brings people to six different stations in the new district. A network of footbridges – so-called Skywalks – departs from the stations and connects the various buildings in the area.

The footbridges are placed at an elevated level separated from the street traffic. Due to the hot climate in Riyadh, it is expected that most people will use the secured, ventilated bridges with a floor width of four to six metres. Here, business people will meet to interact and the cafes and shops of the towers will contribute to create a vibrant and attractive environment in the area. A visual connection from the Skywalks to the streets and plazas of the city will help pedestrians to find their way on the elevated bridges.

The footbridges are built of separate geometric modules, which can be pieced together in different lengths and whose flexible construction can easily be adapted to the various building facades of the city.

close up pictures

Klaus Troldborg
Architect and Project Manager
Phone: +45 8233 3028

Farid Fellah
Communications Manager
Phone: +45 8231 3160

Project facts
Location: Riyadh, Saudi Arabia
Client: RIC
Year of design: 2009 - 2010
Type of assignment: Winner of international competition
Number of bridges: 61 (to be extended to 97)

Crystal building:

Last edited by GulfArabia; Nov 9, 2010 at 7:04 AM.
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Old Posted Oct 17, 2010, 5:41 PM
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ابداع تسلم على الطرح

move here
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Old Posted Oct 17, 2010, 8:59 PM
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Originally Posted by MUHA View Post
look what i found
a blog belongs to lonnymo our friend on youtube!
he runs it and it also has enjoyable sections!Do not forget to visit Off Site link!
we are really greatful lonny!

here some about the blog by lonny him self:

I started the blog for the primary purpose of sharing experiences on the site. The blog has since evolved into a daily tale of our lives here in the Kingdom. Please feel free to post comments if you like or contact me at bloggermo at kafdblog.com. I purposely wrote the email address this way to avoid crawlers and spam machines from finding my email. Just put the @ sign where I wrote “at” and it will work.

The project is literally a entire city being constructed at once. It consists of numerous high rise structures ranging from 6 stories in height to huge CMA tower which nearly 400 meters tall. Currently there are a number of structures that have been topped out or are nearly topped out and many more that are at various stages of being structurally complete. Large holes are being dug from the hard rocky ground all around the site using excavators with breakers mounted. The work goes on 24 hours a day 6 days a week. The contractors have been tasked with turning over the project by mid 2012. Considering the amount of work that remains to be done that is a very ambitious task indeed.

The contractors on site are; Saudi BinLadin, Saudi Oger, El-Seif, and Saudi Constructioneers (SaudiCo) with the bulk of the work being performed by Saudi BinLadin. The project is broken down into packages called PPA 10, currently underway and PPA 30, the largest portion which is currently just starting up.

Our task here is to perform high level audits of the work in place and in progress. We will look for and evaluate general workmanship, adherence to project plans and specifications and determine whether international standards of quality are being delivered. Our evaluations will be performed without consultation with the contractor and will be reported to the board of directors through the Riyadah Investment Company.

There is much to see and much for us to do. In the coming weeks we will be refining our plan for what will be involved with carrying our our duties. Stay tuned…

The Link

Originally Posted by Riyadh Sun View Post


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Old Posted Oct 17, 2010, 9:13 PM
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wow, a lot of nice towers! this is what more middle-east cities should do. i mean, gorgeous towers, they fit in well. looks good!

but i wish you posted less pictures. those who have slow internet are probably waiting 10 minutes for this to load!
...the greatness of victor is equally proportionate to the skill and obduracy of foe...
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Old Posted Oct 17, 2010, 10:17 PM
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Originally Posted by Dylan Leblanc View Post
I just wish there was a site plan available for this development.
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Old Posted Oct 21, 2010, 5:56 AM
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Gensler's designs for a new financial centre in Riyadh
Located in Riyadh, Kingdom of Saudi Arabia, Plot 1.15 will be the second tallest tower situated within the King Abdullah Financial District cluster. The master plan guidelines stipulated a ‘faceted’ architectural design, and clear regulations regarding the height (303m) and parcel footprint. However, the client brief was simple; to provide 1.5 million sq ft of office space. Through an ‘optioneering’ process Genlser were able to quickly define the client’s key business objectives, whilst allaying client concerns regarding the adjacent CMA Tower, which would be taller with larger centre core floor plates.
Envisioned by Gensler as an iconic architectural landmark and gateway for international trade, the super-tall tower is differentiated by its positioning to attract small to medium sized tenants requiring the prestige and facilities normally associated with global headquarters. In doing so Gensler created the ‘Vertical Wadi’; a formal and organisational spine that linked the tenants and created a living environment at the heart of the tower.
The floor-plate is effectively split by the Vertical Wadi. The default setting is 4 tenants per floor, each with their own front door into the atrium areas and no disorientating race-track landlord corridor, and access to views of the city.
The Vertical Wadi generates the formal and organisational structure to the tower, linking all internal functions and cleaving the building mass in two. It is broken down into office zones of 12 floors and then again into business communities of 3 levels creating a scalable working environment. To support the needs of the smaller tenants, the tower provides a high proportion of managed amenity space, ranging from a full conference auditorium to executive club areas and business lounges. The general public is also encouraged to experience the building with an observation deck at 300m.
The monolithic facade is derived from the early design concept driver of the building - a solid rock, cleft in two to create a Wadi. Whilst appearing to be random it is actually formed from a series of repeating modular GRP moulds. The Vertical Wadi dramatically meets the Financial Plaza, opening the building to the public realm. Pedestrians can move through the base of the tower, connecting the plaza to the main retail and cultural areas in the wider district. The interior volumes created are animated and interconnected, promoting meeting and exchange. The interior of the building is clad primarily in back-painted glass of varying tones and transparency, creating a smooth and gradually intensifying colour experience as it travels deeper into the building, much like a slice through a gorge

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Old Posted Oct 21, 2010, 8:54 AM
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woooow, can't wait
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Old Posted Oct 21, 2010, 3:38 PM
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Old Posted Oct 21, 2010, 4:24 PM
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looks beautiful
"I firmly believe, from what I have seen, that this is the chosen spot of all this Earth as far as Nature is concerned." - Luther Burbank on Sonoma County.

Pictures of Santa Rosa, So. Co.
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Old Posted Oct 24, 2010, 11:33 AM
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Samba Bank Tower

Walter P Moore entered a design competition with HOK for a 38-story office tower for Samba Bank in Riyadh's King Abdullah Financial District. The proposed tower consists of two individual triangular masses connected by an atrium space. The taller tower is 160m tall, and the shorter tower tops off at 140m. Each individual tower contains a triangular shaped core to house elevators, stairs, and services.
Working with a basic cast in-situ construction methodology appropriate to the Riyadh market, different forms of structural concrete systems have evolved on the four faces of the building to respond to the unique solar, thermal, and view conditions. The structural system for the proposed SAMBA tower design consists of a hybrid diagrid frame and an outrigger-braced concrete core.

By incorporating the latest advances in tall building structural forms realized through familiar local construction practices, a highly efficient structural system has been developed as an integral component of the building design.



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Old Posted Oct 25, 2010, 6:13 AM
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RIYADH | Capital Market Authority Headquarters CMA | 400m | 1312ft | 80 fl | Prep

Walter P Moore provided structural engineering design services for this 80-story high-rise office tower in Saudi Arabia. At 400 meters tall and 1,991,000 square feet, this world class office tower is to be the landmark project of the new King Abdullah Financial District in Northern Riyadh.
Walter P Moore analyzed over 20 lateral systems for the tower during a six month design period, and ultimately recommended a composite scheme. In the composite scheme, a central Y-shaped concrete core works in conjunction with a composite perimeter braced frame. No columns are vertical, as they sweep in and out with the faceted curtain wall. In keeping with Walter P Moore’s theme of integration of building systems, the sloping braces and columns are fully integrated with the façade which maximizes lettable floor area and minimizes structural materials.

During the structural system selection phase, Walter P Moore performed a carbon emissions comparison of multiple schemes. Even though the composite scheme would require a significant amount of structural steel to be imported for the project, the required concrete in the composite scheme was 40% less than that of an all concrete scheme which resulted in approximately 30% less total embodied carbon emissions for the structural frame.

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Old Posted Oct 26, 2010, 6:40 PM
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Jesus man. Huge project.
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Old Posted Nov 7, 2010, 6:47 AM
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It's Under Construction :

Cyril Sweett manages single largest foundation pour in history of Saudi Arabia

Cyril Sweett International (Cyril Sweett) is pleased to announce that the concrete pour on the foundations of Saudi Arabia's prestigious Capital Market Authority (CMA) tower has been successfully completed, following a deep excavation of over 30 metres and over 4,000 tonnes of steel reinforcements.

The pour was executed by the Saudi Bin Laden Group (SBG), under direct management of Cyril Sweett. The CMA tower is the tallest tower in the Kingdom of Saudi Arabia currently under construction and this was the single largest concrete pour recorded in the history of the Kingdom to date. With one and half consecutive days of concrete being pumped into the raft foundation, 13,000 cubic metres of concrete mix were used to complete the 4.5 metre high foundation.

Commenting on the pour, Des Pike, Project Director of Cyril Sweet, said, "The concrete pour was scheduled to last 42 hours but was successfully completed within 36 hours. Throughout the operation, mobile truck mixers were arriving on site at an average of one every 90 seconds, a significant logistical feat in itself. This is a great achievement for all parties involved who worked continuously around the clock to ensure its success."

Dr. Said Rabiah, CMA Project Department Manager, said, "We are delighted to see the foundations of the CMA Tower have been completed on schedule. The success of this massive undertaking was the result of the remarkable efforts and collaboration of all parties involved. This could not have been achieved without the strong leadership of Cyril Sweett's project management team. I would like to thank the entire project team for achieving this monumental task and very significant milestone."

The CMA tower is the focal project of the King Abdullah Financial District and when completed will soar 385m above ground level. Designed by renowned American architects, HOK, and leading consulting firm Omrania & Associates, the building combines architectural ingenuity with the very best in environmental credentials to achieve a Gold LEED standard.




Originally Posted by ibib View Post


Last edited by GulfArabia; Nov 7, 2010 at 3:46 PM.
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Old Posted Nov 9, 2010, 6:57 AM
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Saudi mega cities challenge the private sector

Published: Nov 8, 2010 22:44 Updated: Nov 8, 2010 22:44

SAUDIA Arabia is being literally transformed, but unlike desert mirages, the Kingdom is witnessing the birth of some of the most ambitious economic and social engineering projects in the Middle East through its planned mega economic cities.

Compared with some other Arab economies hard hit by the global financial downturn, there is a mood of quiet optimism in Saudi Arabia and consumer confidence indexes reveal that Saudi citizens believe they will not be as badly affected as other countries worldwide.

This sense of self-confidence seems sustained by bolder strategic economic and social reforms implemented by King Abdullah, whether in the judiciary, educational or economic fabric of society.

Buoyed by several years of budget surpluses, the Kingdom has embarked on structural economic reforms in both capital infrastructure and human capital development and the planned mega economic cities are but one manifestation of this mood of self-confidence.

Unlike earlier large infrastructure developments, a key element of this strategy has been reinvigorated regional economic diversification and more equitable wealth creation for Saudi citizens. This has been translated into the launching of special economic zones, seemingly alike, but in reality each planned to specialize in certain niche core activities to leverage on each area’s location advantages. As of 2009, four economic cities have been launched with two more economic cities expected in Tabuk and Dammam. The planned infrastructure expenditures on these mega cities are enormous, totalling some $140 billion in the first phase. The largest is the King Abdullah Economic City at Rabigh on the Red Sea coast, with a planned area of 168 million sq meters and $ 80 billion in basic infrastructure cost. It will be the largest government and private sector integrated development project since the 1980’s when the Kingdom embarked on creating the Jubail and Yanbu industrial cities. Unlike the capital intensive projects of the earlier period, Saudi Arabia is now focussing on job creation and private sector participation from the start, and the King Abdullah Economic City, upon its completion in 2020, will aim to generate 1 million new jobs, promote energy and transportation related industries, and establish a new sea port of 13.8 million sq. m. and handling some 300,000 pilgrims.

The other planned mega economic cities are also just as ambitious with some $ 23 billion planned expenditure for Prince Abdul-Aziz bin Musaed Economic City in Hail, supporting agro industrial and mineral exploitation projects in that region, and a $30 billion planned expenditure in Jizan Economic City, the southern region of the Kingdom, concentrating on heavy industries (aluminium, refinery, steel, power) as well as secondary industries such as fisheries, and pharmaceuticals and generating 500,000 new jobs. Phase 2 of the project is expected to be completed by 2013 and the final phase by 2037. The fourth planned mega economic city is in Madinah and will focus on knowledge-based industries, create 20,000 new job in this high value sector, attract 150,000 new residents and complete by 2020 at a cost of $ 7 billion.

By 2020, it is expected that the major phases of the economic cities will have been completed and the forecasted impact on the Saudi economy are far reaching. According to the Saudi Arabia General Investment Authority (SAGIA) some 1.7 million new jobs will be created, with the economic cities adding $150 billion to the Saudi GDP. They will attract over $100 billion of new investments domestically and from abroad, and their population will be three times that of Dubai, with an area four times that of Hong Kong.

The government of Saudi Arabia is forecasting that from both the private and public sectors, a staggering $800 billion will be invested in these economic zones and other mega projects including those being planned by Saudi Aramco and SABIC in these mega cities.

No other country in the Middle East can match such grand project expenditures, which upon completion, will unleash Saudi Arabia as one of the major economic power houses of the world in league with India, China and Brazil as the undisputed leaders of the developing world. What is of more significance for Saudi Arabia, is the potential for the direct and indirect multiplier effect of these mega projects on secondary local industries and job creation in the wider Saudi economy.

The real test of success will be the level and scope of private sector participation in the grand projects, whether from Saudi investors or from abroad. Given international economic and financial uncertainties, Saudi investors and others from the Gulf, seem to have been encouraged at the opportunity to share in local risk as the Saudi government has spent political capital into ensuring that the second phase of its economic diversification strategy succeeds. It is not a coincidence that one of King Abdullah’s favorite project- the King Abdullah University of Science and Technology (KAUST), with an independent endowment fund of over $15 billion, is also taking shape at Rabigh near the King Abdullah Economic City. The hope is that an infusion of knowledge, technology, new skills and job creation unleashes a new dawn of prosperity for the Kingdom. Dr. Mohamed A Ramady is a former banker and visiting associate professor, finance and economics at King Fahd University of Petroleum and Minerals, Dhahran, Saudi Arabia.

King Abdullah Financial District: Riyadh's Wall St
By Lahem al-Nasser

Riyadh, Asharq Al-Awsat- If the last time you visited the city of Riyadh was five years ago, then you are in for a surprise if you visit it again today. The city is like a huge construction site, with cranes dominating the skyline; the streets are crowded with trucks, and giant high-rise towers are encased in scaffolding. It is as if this is part of a fierce race against time to complete development projects; as if the city is trying to make up for lost time. Perhaps the most notable or prominent of these development projects is the King Abdullah Financial District, which will become the financial center for the city of Riyadh, in the same manner as New York's Wall Street or London's Canary Wharf. The King Abdullah Financial District encompasses an area of approximately 1.6 million square meters, and when completed will house the Saudi Arabian Capital Market Authority and the Stock Exchange, in addition to the country's largest banks and companies, as well as an academy for studying financing and banking.

Due to Saudi Arabia’s enormous liquidity, its economic and political stability, and the strategic location of the country; the King Abdullah Financial District is expected to attract a number of international financial institutions, especially after Saudi Arabia recently joined the World Trade Organization [in 2005], which opened up the country to the financial services industry. In light of the fact that the Islamic banking industry [in compliance with Islamic Shariaa law] currently dominates the Saudi financial industry in general, and that Saudi Arabia's Islamic financial assets currently stand at somewhere between $91 billion and $120 billion, Saudi Arabia is now the world's second largest economy – after Iran – in terms of Islamic assets. In Saudi Arabia today approximately 98 percent of personal financing occurs via Islamic Shariaa compliant methods, in addition to 67 percent of corporate financing.

As for the stock markets, the bulk of Saudi shares are also Shariaa-complaint. Furthermore, the sukuk market only trades in Islamic Shariaa compliant sukuk's and bonds. Therefore the King Abdullah Financial District has the potential to be the world's number one center for Islamic finance, especially after officials realize that this is an achievable goal. This objective is not difficult to achieve if we have the will and strength to see this through, and if we draw up goals and make sure that they are implemented.

Perhaps one of the most important factors that will ensure that the King Abdullah Financial District will become a center for Islamic finance is the government enacting legislation and establishing specific regulations for this industry, as well as establishing special courts to deal with financial disputes arising from this industry, under the umbrella of the Ministry of Justice, away from the judicial and semi-judicial committees that misrepresent the Saudi Arabian legal system today. This is in order for potential investors to have confidence in the investment climate in Saudi Arabia. The other important factor is governmental support for this industry by providing it with the required infrastructure, such as ensuring that staff has proper vocational training through the establishment of academies and university departments devoted to teaching finance and Islamic banking. Research centres should also be established, and independent professional organisations encouraged, to work alongside the government’s already tireless efforts to operate in line with the mechanisms of the Islamic finance industry: For example, issuing sovereign sukuk instead of [conventional financial] bonds, and encouraging government and quasi-government treasuries to use Islamic financial products, particularly as this is one of the demands put forward by those who benefit from the services of these treasuries. It is also important to work towards convincing international bodies to recognize the special standards that come with this industry. Saudi Arabia is capable of demanding such conditions, in view of its economic, financial and political strength in the international community, and because the Islamic financial industry has already proven itself.

Saudi Arabia's efforts to make the King Abdullah Financial District a hub for the Islamic financial industry will have a positive impact on the country, for it will return financial capital to the country, and attract international financial corporations that seek to derive benefits from the liquidity of this industry. The King Abdullah Financial District will also ensure that Saudi Arabia has a leading role and huge influence in the Islamic financial industry. This will ensure that Saudi Arabia is the most important player in this industry, and will enable Riyadh to decide the industry's principles and criteria. Looking at the tremendous growth rate of this industry – which achieves growth rates that exceed 20 percent annually – we can only estimate the economic influence that Saudi Arabia will enjoy in the near future.

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Old Posted Nov 10, 2010, 2:03 AM
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Not in Love

I do enjoy Gensler-- they have a muscular, corporate aesthetic-- but the site plan looks ridiculous. Not the good "ridiculous". This collection of glass shards looks like a glorified office park, albeit urban, next to a directional interchange. But it is a landlocked city in the desert, so perhaps this spatial layout is motivated by something reasonable(?)
It's a Sophie's Choice, really...
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Old Posted Nov 14, 2010, 1:32 AM
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Old Posted Nov 16, 2010, 1:52 AM
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this is a more clearer map

Originally Posted by Þróndeimr View Post
I tried to gather all information - all buildings, companies behind each building, building detail, renderings and movies about the buildings, still a lot of work reminds, but here is how it looks like so far. Use the site plan to find the exact position of each project. Links goes to Urbika, an excellent site we use to try to get an overview of all the projects.

This is mainly made for my self to the overview while i search for information.

King Abdullah Financial District

Parcels 1
Parcel (official name if known)                 Status              Images  Movies   News  Companies
Parcel 1.09                         Planned                            3 
Parcel 1.10 (Crystal Towers)        Planned          4                 3 
Parcel 1.11                         Planned                            3 
Parcel 1.14 (GCC)                   Construction     6                 2 
Parcel 1.15 (WTC)                   Construction     5                 4 
Parcel 1.16 (CMA)                   Construction     4                 2
Parcels 2
Parcel (official name if known)                 Status              Images  Movies   News  Companies
Parcel 2.05                         Planned          4                 3
Parcel 2.07                         Planned                            3
Parcel 2.08                         Planned                            2
Parcel 2.09                         Construction     3     1           3
Parcel 2.10 (Gem Building)          Planned          13                3
Parcel 2.11                         Planned                            3
Parcel 2.12                         Planned                            3
Parcel 2.13 (Villas in the Sky)     Planned          5                 3
Parcel 2.14                         Construction     3     1           3
Parcels 3
Parcel (official name if known)                 Status              Images  Movies   News  Companies
Parcel 3.04 and 3.05                Construction     3     1           4
Parcel 3.09                         Planned                            3
Parcel 3.10                         Planned                            3
Parcels 4
Parcel (official name if known)                 Status              Images  Movies   News  Companies
Parcel 4.01                         Planned                            3
Parcel 4.02                         Planned                            3
Parcel 4.03                         Planned                            3
Parcel 4.06 (Saudi Bank HQ)         Planned          5     1           3
Parcel 4.07 and 4.08                Construction     5     1           3
Parcel 4.09                         Planned                            2
Parcel 4.10                         Planned                            3
Parcel 4.11                         Planned                            3
Parcel 4.12                         Planned                            3
Parcels 5
Parcel (official name if known)                 Status              Images  Movies   News  Companies
Parcel 5.01                         Planned                            3
Parcel 5.02                         Planned                            3
Parcel 5.03                         Planned                            3
Parcel 5.04                         Planned                            3
Parcel 5.05                         Planned                            3
Parcel 5.06                         Planned                            2
Then i have a few missing plots i don't know anything about, but according to the map there are a building with design ready there.
Parcel 1.08
Parcel 1.12
Parcel 1.17
Parcel 1.18
Parcel 4.04
Parcel 4.05
Parcel 5.08
Parcel 5.07

Would be nice if someone could fill me out here. Heights on most buildings are missing. Need better renderings for a lot of them as well.

Ill try to finish up a better overview when its all done.
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Old Posted Dec 13, 2010, 1:06 PM
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12-14 December 2010

For the rest of the displayed projects open links:
SkyscraperCity Thread link: http://www.skyscrapercity.com/showthread.php?t=1275129
SkyscraperPage Thread Link: http://forum.skyscraperpage.com/showthread.php?t=187251
Photos shot by user: On_My_Own in SSC

Public Pension Agency showcase

the lovely KAFD ... u can see the plazas they're planning to make. I
guess they r around 6 or 7. besides, I was really surprised by the
bridge connecting the two parts of the project. Aonther thing I wasamazed by is the tremendous amount of skywalks. They're almost connecting each building to the next one

Close-up look at one of the plazas

another palza ... as u see some of them are multiple stored

CCG tower - KAFD

World Trade Center - KAFD

a new tower in KAFD ... I asked them about this pic and he told me
that this is the final design and it's already U/C

another building in KAFD
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