Major energy saving technologies will be incorporated into the new headquarters of the Saudi Stock Exchange, or Tadawul, which is being developed at a cost of over SR1 billion ($266.6 million).

The new bourse will be designed by top Japanese architect and world leader in sustainable design, Nikken Sekkei.

“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 Nikken Sekkei which has secured the design and engineering consultancy contract for the new headquarters.

The King Abdullah Financial District is a multi-year project during which Saudi Arabia – already the world’s oil capital – aims to consolidate its position as the Middle East’s financial capital.

The district will be the headquarters for the Capital Market Authority as well as Tadawul and for financial institutions and other service providers. Listed companies on Tadawul are worth about $319 billion, almost as much as the rest of the Gulf markets combined.

“Our sustainable design was chosen because it balances construction value, sustainability and iconic design. In our design we strived to reflect the identity of Tadawul and incorporate several major energy saving technologies, complying with the latest Leadership in Energy and Environmental Design standards (LEED), the green building rating system, developed by US Green Building Council (USGBC),” said Nakamura.

Nikken Sekkei revealed that the building’s features would showcase:

• A 'sunlight scooper' introducing natural sunlight
• Photovoltaic panels to reduce energy consumption
• Solar shading to help reduce the cooling load
• Mirror ducts introducing natural light to basement levels and deep inside the building
• Dry mist cooling of exterior space
• A cool pond to store cooled air at night to reduce day time cooling load
• High efficiency chillers and thermal storage
• A cool trench to pre-cool fresh air with geothermal energy at lower levels

Nikken Sekkei has a long history of involvement with Saudi Arabia, including the design of the Islamic Development Bank in Jeddah completed in 1993.-TradeArabia News Service