RIYADH: A Saudi-Chinese consortium has won a SR1.15 billion ($306 million) contract to design, supply and install curtain-wall facades at Prince Mohammed bin Salman Stadium in Qiddiya, planned for the 2034 FIFA World Cup.
The joint venture, IKK Fangda JV Co., is owned by two companies: China Fangda Group’s Shihui International Holdings, which holds a 51 percent stake, and Saudi-based Isam Kabbani & Partners, a subsidiary of IKK Group, which owns the remaining 49 percent.
The award comes as the Kingdom advances its Vision 2030 economic diversification agenda amid regional tensions, with the government maintaining spending on strategic development projects expected to support long-term economic growth, according to the Ministry of Finance’s 2027 pre-budget statement.
The contract was signed with Uptown Stadium Construction JV, the project’s general contractor, a consortium comprising Spain’s FCC Construccion and Saudi Arabia’s Nesma & Partners Contracting.
The consortium is expected to complete the project, which covers the main venue, museum and ancillary buildings, within 863 days, according to a company disclosure.
Saudi Arabia prepares stadiums for 2034 World Cup
Prince Mohammed bin Salman Stadium is designed to accommodate more than 45,000 spectators, with views of the Tuwaiq cliffs incorporated into its design.
The venue is one of 15 stadiums planned across Riyadh, Jeddah, and Al Khobar, as well as Abha and Neom, as part of Saudi Arabia’s bid to host the 2034 FIFA World Cup, according to official Saudi 2034 bid materials.
The newly released statement said: “This project is one of the world's major curtain wall projects.”
It added: “The successful execution of this project will establish a benchmark portfolio with international influence in the Middle East.”
Contract brings growth potential, execution challenges
The contract value represents 60.7 percent of China Fangda Group’s audited operating revenue in 2025. The company said successful execution was expected to positively affect its operating results in future years, with revenue recognition dependent on the progress of the work and applicable accounting policies.
The project will require compliance with Saudi standards while addressing challenging site conditions, including high winds at the cliff-top location, sandstorms and extreme temperatures.
Stadium pipeline
The stadium has attracted other major contracts, including an SR829 million mechanical package awarded to Elegancia Arabia Trading in September.
The work covers heating, ventilation, firefighting and building-management systems, with completion scheduled for May 2030, according to Estithmar Holding.
The Kingdom’s World Cup plans include a mix of new stadiums and existing venues to be refurbished, with the infrastructure intended to support the tournament and Saudi Arabia’s longer-term sporting needs.
The official bid outlines 15 proposed stadiums, including 11 new builds, across the five host cities.