Saudi Arabia business giants to name $23bn Riyadh Metro's stations
Firms such as Sabic, Majid Al Futtaim Shopping Malls, and STC will name eight Riyadh Metro stations
Naming rights have been awarded for Saudi Arabia’s $23bn (SAR86.3bn) Riyadh Metro stations “to a number of major economic entities” such as Dr Sulaiman Al Habib Medical Group and UAE-headquartered Majid Al Futtaim Shopping Malls Co. The 10-year contracts were awarded following an auction that has raised more than $278m (SAR1bn), Arriyadh Development Authority (ADA) announced.
HRH Prince Faisal bin Bandar bin Abdulaziz, chairman of ADA and chairman of the higher committee for the implementation of Riyadh’s King Abdulaziz Public Transport Project, attended a ceremony during which the naming rights for numerous Riyadh Metro stations were announced.
Eng Tarek Abdulaziz Al-Faris, executive chairman of ADA, announced the naming rights, one of which has been won by Saudi Telecom Company (STC). The main station located at the intersection of Al Olaya Street with King Abdullah Road will be named by STC through its winning bid.
Saudi Basic Industries Corporation (Sabic) won the bid to name the station next to Imam Muhammad bin Saud Islamic University. In a media statement, the chemicals giant said “Sabic Station will serve both Al-Imam Muhammad Ibn Saud Islamic University and Princess Noura University, as well many nearby secondary schools and commuters accessing King Khalid International Airport”.
The statement continues: “It is estimated that up to 11 million people will pass through the Sabic Station annually. It is the first time the petrochemicals company has acquired naming rights for a project of this type. When opened, the new station will feature branding and a permanent exhibition that highlight how Sabic solutions are supporting environmental sustainability and important advancements in modern life.”
Bank Albilad, Saudi British Bank (Sabb), and Alinma Bank have also won naming rights for three Riyadh Metro stations that intersect with Al Olaya Street. Albilad’s metro station is at the intersection of Al Olaya Street with Prince Mohammed bin Abdulaziz Street, while Sabb’s station meets the street at King Salman Road. Alinma Bank’s station intersects with the street at Mousa bin Nusair Street. Dr Sulaiman Al Habib Medical Group won the bid to name the station at the intersection of Al Olaya Street and Anas Bin Malik Road.
Granada Investment Centre will name the station at the junction of Abu Jafar Al-Mansour Road with the Eastern Ring Road, ADA announced, while Majid Al Futtaim Shopping Malls Co's City Centre Ishbiliyah brand will name the station where King Abdullah Road intersects with Al-Najah Street. City Centre Ishbiliyah is an under-construction project due to complete by 2022, according to construction intelligence platform, ProTenders.
This year has taken Riyadh Metro closer to its official opening date, which is due for soft launch in 2019, becoming fully operational in 2021. Deep tunnels and bridges for Riyadh Metro were completed as of September, and surface routes were 93% complete at the time, Saudi Gazette reported earlier this year.
Two operation and maintenance (O&M) contracts were awarded by ADA this September for the project. Camco won O&M work on Lines 1 and 2 of Riyadh Metro, whilst Lines 3-6 will see O&M work delivered by Flow Consortium.