Qiddiya Speed Park build-infra contract

Article posted by Coliseum, February 23^rd, 2024

Image: Qiddiya

Saudi Arabia’s Qiddiya Investment Company (QIC) has awarded the local United Maintenance and Contracting Company (UNIMAC) an estimated SR1.8bn ($480m) contract to deliver the racetrack and associated infrastructure at Qiddiya’s Speed Park.

‘MEED’ stated that the scope of the contract includes the track build and all infrastructure works including electrical networks, storm drainage systems, water and sewer networks, landscape works, as well as the associated underground and above ground structures and the associated civil works.

Riyadh (Saudi Arabia)-based the Qiddiya Investment Company (QIC) is a real estate development company that is developing Qiddiya City, a destination for entertainment, sports and culture in Saudi Arabia. The QIC was incorporated on May 10^th, 2018.

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The under-construction Qiddiya City is an entertainment and tourism megaproject in Riyadh, Saudi Arabia. It was launched in 2018 by King Salman bin Abdulaziz and is part of the Saudi Vision 2030 program. The Qiddiya City is about two and a half times the size of the Walt Disney World in Florida, US. Qiddiya City will host a year-round calendar of some of the biggest e-sports tournaments. It will also have roller coasters that rival the F1 cars.

Riyadh (Saudi Arabia)-based the United Maintenance and Contracting Company (UNIMAC) is a specialized heavy civil contracting company that focuses on the design, construction and maintenance of infrastructure. With over a thousand employees, and more than 900 plants and equipment, UNIMAC is capable of independently designing and self-executing projects ranging from airport infrastructure to inter-City highways.

The Qiddiya Speed Park is a professional motorsports venue in Saudi Arabia’s Qiddiya Entertainment City. The park will include a Federation Internationale de l’Automobile (FIA) Grade One racetrack, which will be able to host Formula 1 Grand Prix (any of a series of formula motor races held to determine the annual Drivers’ World Championship) and the MotoGP (the premier motorcycle championship in the world) races.

Paris (France)-based the Fédération Internationale de l’Automobile (FIA) is an association established on June 20^th, 1904 to represent the interests of motoring organizations and motor car users. It is the governing body for many auto racing events, including Formula One. The FIA also promotes road safety around the world.

London (UK)-based Formula One, commonly known as Formula 1 or F1, is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l’Automobile (FIA).

‘MEED’ further stated that the racetrack will meet the Federation Internationale de l’Automobile (FIA) and Fédération Internationale de Motocyclisme (FIM) requirements for homologation (the act of granting approval by an official authority), including the required drainage systems, safety elements and race electronics.

Mies (Switzerland)-based the Fédération Internationale de Motocyclisme is the global governing/sanctioning body of motorcycle racing. It represents 119 national motorcycle federations that are divided into six continental unions.

It will be an FIA Grade 1/FIM Grade A track at the resort core in Qiddiya Entertainment City. Once complete, the circuit will be capable of hosting Formula 1 Grand Prix and motorcycling MotoGP races.

In October last year, the QIC selected the joint venture of local contractor El Seif Engineering Contracting (ESEC) and the UAE-based ALEC for the contract to construct buildings around the racetrack at Qiddiya’s Speed Park.

Riyadh (Saudi Arabia)-based the El Seif Engineering Contracting (ESEC) is one of the leading construction companies in Saudi Arabia and has a diverse portfolio of projects delivered in the Middle East. With innovative and sophisticated construction and engineering techniques, the company has delivered numerous projects that represent some of the region’s major landmarks.

Dubai (UAE)-based the ALEC Engineering and Contracting L.LC. (ALEC), part of the Investment Corporation of Dubai (ICD) (the principal investment arm of the Government of Dubai), is a large construction company with related businesses operating in the Gulf Cooperation Council (GCC) and with a presence in Africa. ALEC has consistently evolved and grown over the last 20 years to become a trusted partner for the execution of complex and iconic construction projects. The company builds and provides construction solutions to exceed its clients’ expectations for quality, safety, functionality, and aesthetics.

The initial scope of works is understood to be valued at about SR7bn ($1.9bn). Later works, which are still at the design stage, could take the final value to up to SR15bn.

In October, the QIC also selected the local Shibh Al Jazira Contracting Company (SAJCO) to deliver the infrastructure beneath the racetrack including mass grading, earthworks and a tunnel.

Founded in 1965, the Shibh Al Jazira Contracting Company (SAJCO) is one of the leading construction companies in the Kingdom of Saudi Arabia and is based in Riyadh.

Qiddiya Projects

The QIC is preparing to deliver several components of its Qiddiya Entertainment City project.

In December 2023, the QIC appointed a joint venture of the local El Seif Engineering Contracting and the Beijing-based China State Construction Engineering Corporation (CSCEC) for the estimated SR2bn ($533m) contract to build the e-games arena.

The China State Construction Engineering Corporation (CSCEC) is a global investment and construction company. It was founded in 1982 and as of 2020, it is the largest construction company in the world by revenue.

The QIC is preparing the estimated $500m-worth of roads, utilities and tunnels packages contract at the development.

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