The State Properties General Authority (SPGA) and the National Center for Privatization & PPP (NCP) have announced the qualification of eight companies and consortiums to participate in the tender for the Quality Valley Riyadh Project, a major mixed-use development planned on the headquarters site of the Saudi Standards, Metrology and Quality Organization (SASO) in Riyadh, Saudi Arabia.

The qualified bidders include three individual companies and five consortiums, comprising leading Saudi real estate developers, investment firms, contractors, and infrastructure players. The qualified companies are:

• Al Ayuni Investment and Contracting
• Mada International Holding
• Tanami Holding

The qualified consortiums are:

• Consortium of Abdulrahman Saad Al Rashid & Sons Company, Saudi Bunyan Real Estate Investment, and Al Rashid Real Estate
• Consortium of Ajdan Real Estate Development and Al Oula Real Estate Development
• Consortium of AREIC, Skybridge, and Al Bawardi Holding Group
• Consortium of Hiyazah Real Estate Development Company, Ahmed Mohammed Al Saif & Sons Trading and Investment, Bait Al Mawared Contracting, and Assets Facilities Management
• Consortium of Sumo International Investment, Buna Holding, and Buna Al Khaleej Contracting

The Quality Valley Riyadh Project involves the development of the existing SASO headquarters site in the Al-Muhammadiyah District of Riyadh into an integrated mixed-use masterplan spanning more than 191,000 square metres. The project is being procured under a PPP model based on a Design-Build-Finance-Operate-Maintain-Transfer (DBFOMT) structure. The project has a contract duration of 32 years, in addition to a three-year construction period. The scope of the project includes the full development and operation of the site, including revenue-generating assets, as well as the delivery and maintenance of government office facilities to support government operations and future growth. The private-sector partner will also be responsible for the commercial development and investment of the commercial site, with flexibility to optimize the asset mix in accordance with applicable guidelines and required approvals. 

Additional works will include the development of shared and service facilities, including a mosque, parking facilities, landscaping, internal roads, open spaces, and pedestrian pathways. At the end of the concession period, the developed facilities will be transferred to the procuring authority. The Quality Valley project is designed to create a new integrated urban destination combining government and commercial office space, retail facilities, and supporting amenities, while optimizing the utilization of state-owned assets and promoting private-sector participation in the development and operation of public assets.