Saudi Arabia’s National Center for Privatization and PPP said 59 companies have submitted expressions of interest for the Quality Valley Riyadh Project, a Saudi urban development initiative, according to a LinkedIn Post by the project stakeholders.

The project is being developed in Riyadh and involves the Ministry of Finance, the Ministry of Investment and other government entities.

The submissions include 36 developers, 11 contractors, three consultants, six equity investors and three firms from the financial services sector, the post indicated.

Among the developers listed were firms including Tatweer, Al Saedan Real Estate, Algihaz Holding, Ajdan, Al Bawani, Lamar Holding and Zamil Real Estate. Contractors named included Al Kifah Holding, Saudi Binladin Group, Arabian Construction Co (ACC), IHCC, Mobco Construction and BEC Arabia Contracting, while consultants included Meinhardt, Dar Al Riyadh and Al Tamez Architect Design.

Gulf Construction last month reported that Saudi Arabia’s State Properties General Authority (SPGA) and the NCP had announced the launch of the Expression of Interest (EoI) phase for the development of the Quality Valley project, under a public-private partnership (PPP) design, build, finance, operate, maintain, and transfer (DBFOMT) model.

The project scope includes the development of the headquarters site of the Saudi Standards, Metrology and Quality Organization (SASO) in Al Muhammadiya includes the development of the headquarters site of the Saudi Standards, Metrology and Quality Organization (SASO) in Al Muhammadiyah District of Riyadh, transforming it into an integrated mixed-use masterplan spanning over 191,000 sq m.

The project aims to create an urban destination that combines government and commercial office spaces, retail components, as well as the development of mosques, landscaped areas, roads, and pedestrian pathways.

SPGA and NCP invited top local and international companies and developers with relevant experience to provide design, build, finance and operation and maintenance and transfer services.

The contract is for a duration of 32 years (in addition to a three-year construction period).

The Quality Valley project seeks to optimise the utilisation of state assets and achieve financial sustainability, in line with Saudi Vision 2030 and the National Transformation Program.