Otis Elevator Company said its Saudi affiliate has won six contracts for supply and installation of 263 elevators, including 10 double-deck elevators, and 90 escalators to different buildings in the King Abdullah Financial District in Riyadh.

A unit of United Technologies Corp, the US-based Otis is one of the world's largest manufacturer and maintainer of people-moving products including elevators, escalators and moving walkways.

Otis Saudi said King Abdullah Financial District is designed to be the world's first newly developed major financial district of the 21st century and represents the latest stage in a carefully-planned and implemented program of financial modernisation by Saudi.

'With these wins, Otis builds upon a heritage of leadership and innovation in Saudi Arabia,' remarked Otis president Pedro Baranda.

'We are honoured to be a part of these structures and the world's newest financial center and look forward to a continued partnership with the Middle East's premier financial district,' he added.

Two of the tallest structures in the District, the KAFD World Trade Centre and GCC Bank Headquarters, the Gulf region's governing financial institution, will include Otis elevators and escalators, said a statement from Otis Saudi.

Otis will install 25 elevators and eight escalators in the KAFD World Trade Centre and 30 elevators and four escalators in the GCC Bank Headquarters.

Otis double-deck elevators will play a critical role at both the KAFD World Trade Centre and GCC Bank Headquarters. Double-deck elevators save space in a building, allowing room that would otherwise be needed for elevator use to be used as rentable space.

Depending on the building and its needs, double-deck elevators can save up to 40 percent of the space required by traditional elevators while increasing transportation capacity by up to 30 percent.

In addition, Otis double-deck elevators enable building developers to create taller structures with a more limited ground-level footprint.

At 300-meters tall, the KAFD World Trade Centre will include four amenity levels centered on the Otis double-deck elevators. It is scheduled to be completed in late 2012.-TradeArabia News Service