Home Construction Riyadh Municipality issued EOI for Car Park Construction

Riyadh Municipality issued EOI for Car Park Construction

Riyadh Municipality of Saudi Arabia revealed the launching of the Expression of Interest phase for the Car Park Construction and Management Project in Riyadh. The project will be situated in Al Olaya district, between Urubah Road to the North, Makkah Al Mukarramah Road to the South, Olaya Road to the East, and King Fahd Road to the West. The Riyadh Municipality said that the project will be developed in partnership with the private segment under a benefit-sharing build–operate–transfer (BOT) model.

The total number of parking spaces in the project will be approx 6,703 parking spaces; approx 4,174 on-street parking and 2,529 off-street parking spaces to build within multistory car park buildings on 13 plots of various sizes in the specified area. It is value noting that 25% of the multistory parking buildings have been allocated for commercial use. The initiative goals to address traffic congestion effects, reduce environmental pollution, preserve the public appearance, and activate smart city initiatives; thus increase the quality of municipal services, and contributing to the target of the Kingdom’s Vision 2030. The Car Park Construction and Management Project has pondered the first privatization project to be launched in the municipal segment under the privatization Program.

Interested investors should participate in their EOI by Monday, August 3, 2020. ​


Please enter your comment!
Please enter your name here

Most Popular

Hill International secured $318 million Egyptian hospital revamp project

Hill International has secured a contract to provide construction management services for the $318m Kasr Al-Ainy Hospitals refurbishment project for Cairo University...

Actis eyeing $4.5bn fund for Mena renewable energy projects

Actis, an emerging markets investment firm based in London, UK, is eyeing finance worth $4 billion for launching its new international fund...

Abu Dhabi waste energy projects

The Abu Dhabi National Energy Company (Taqa), Emirates Water and Electricity Company (Ewec), and the Abu Dhabi Waste Management Centre (Tadweer) have...

SWPC invites to submit EOI for the Ras Mohaisen IWP

Saudi Arabian Company SWPC has invited developers to submit expressions of interest (EOI) for the planned Ras Mohaisen independent water project (IWP).