Japanese architects sign contract to design SAR1 billion Saudi Stock Exchange
Nikken Sekkei has beaten 31 international companies to secure the design and engineering consultancy contract for a new, highly sustainable Saudi Stock Exchange Headquarters building. The SAR1 billion (€179 million) development will rise 50 stories high in new financial heart of Riyadh.
Major energy saving technologies will be incorporated into the design of the new headquarters of the Saudi Stock Exchange, or Tadawul, including solar shading, dry mist cooling of exteriors, mirror ducts to enhance natural light in lower levels, photovoltaics and a cool trench to pre-cool fresh air for circulation. The Tadawul headquarters building will comply with the latest Leadership in Energy and Environmental Design standards (LEED), the green building rating system, developed by US Green Building Council (USGBC).
“This is a very forward-thinking decision taken by Tadawul. The new stock exchange at the heart of King Abdulla Financial District in Riyadh, will be a state-of-the-art and intelligent building of the future,” said Mitsuo Nakamura, Chairman of Japan-based Nikken Sekkei.
“Our sustainable design was chosen because it represented the best value-for-money,” he added.
The King Abdullah Financial District is a multi-year project during which Saudi Arabia – the world’s oil capital – aims to consolidate its position as the Middle East’s financial capital. Listed companies on Tadawul are worth about $319 billion, almost as much as the rest of the Arabian Gulf markets combined.
Nikken Sekkei has also undertaken to invite up to 10 Saudi nationals to work as interns at their head office in Tokyo. “We hope to enhance cross-cultural values as well as long-term relationships,” commented Fadi Jabri, General Manager of Nikken Sekkei’s Dubai office. “Nikken Sekkei has a long history of involvement with Saudi Arabia, including the design of the Islamic Development Bank in Jeddah completed in 1993.”