The Information Technology and Communication Complex in Riyadh signed Sunday three contracts with a total value of over SR3 billion for the construction of three groups of buildings to be completed in 36 months. The Public Pension Agency (PPA) governor, Muhammad Al-Kharashi, signed the contracts. The first, worth SR2.5 billion, is with Al-Rajhi Projects for Wahat Al-Aamal (The Business Oasis) Building Group, which will contain four 20-floor towers, two research and development buildings, two buildings for business technology incubators and other premises such as a library, mosque, sports club and clinic. The second contract of SR563 million for a five star-hotel and conference hall was signed with Contracting and Construction Projects company. As in the first contract, the duration of execution has been set at 36 months. The third contract was signed with Al-Yamamah for Business to build a residential complex with villas, apartment blocks and parking lots, swimming pools, gardens and a recreational area. This third contract, set at 30 months for completion, is notable for its parking facilities which are to include a designated car park building equipped with BMS (Building Management Services) enabling users to locate vacant parking spaces, while visitors to the complex will be able to leave their vehicles in parking areas and use environment-friendly electric buses for transfer to anywhere inside the complex. The contract also includes two buildings for Police and Civil Defense. Estithmarat Al-Raeda (Pioneering Investments) company has also signed a contract with Dar Al-Riyadh and Zuhair Fayez companies to supervise the execution of the project's main buildings, and an agreement was also signed with the Intercontinental Hotel Group to operate the hotel and the conference hall. An agreement is now being sought with the Saudi Electricity Company to provide power, while offers for District Cooling plants are being studied and other building designs are in the process of completion. The location plans for the project had been previously approved by the Riyadh City Development Authority and a consultative office was hired to provide detailed designs for the project infrastructure, which is now being executed at the cost of SR243 million and is expected to be completed in August 2009.
