Diriyah Company, backed by the Public Investment Fund (PIF), has awarded a contract to Italian contractor Webuild for Diriyah Square in Saudi Arabia.

The contract is valued at $600 million, Webuild said in a statement.

The new contract, known as package 3 finishing and MEP, involves the construction of more than 70 buildings and public spaces designed in line with traditional Nadji architecture principles within Diriyah Square.

The total area covered under the contract is 365,000 square metres. 
Webuild is already involved in the mega project, building an underground multi-story car park with a capacity of 10,500 vehicles.

The contract was awarded in 2022 and is 55 per cent completed. Related structural works are part of packages 3, 6 and 7.

The combined value of the projects awarded to Webuild by Diriyah Company has reached nearly $2 billion. 

The Italian contractor is engaged in various strategic projects in the Kingdom, such as the high-speed line, a system of three dams and a freshwater lake for Trojena. It is working on the urbanisation plan in Riyadh.
 
(Editing by Anoop Menon) (anoop.menon@lseg.com)

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