UAE-based City Cool has been awarded a US $134 million (AED 491 million) contract to provide district cooling infrastructure for one of the largest real estate projects in Riyadh, Saudi Arabia.
The Ajmakan project is being developed by The Land and will cover a around 1,750,00m2 and cost $1.74 billion (SAR 6.5 billion).
A statement released on Thursday said the contract calls for City Cool to provide 40, 000 tones of refrigeration for the district cooling plant’s large centrifugal chillers.
City Cool Chairman Ibrahim Al Rajhi said the system is widely recognised as the most energy-efficient means of providing cooling for large-scale developments, reducing electricity consumption by 50%.
‘There is a lot of potential for district cooling in Saudi Arabia which is driven by the massive construction boom and the increasing demand for sustainable building solutions that call for energy and water conservation,” he said.
“Besides, Saudi offers an excellent infrastructure in terms of availability of power and other natural resources for the district cooling market to flourish.”
The project is scheduled for completion in 2012.
It is City Cool’s second major district cooling project in Saudi Arabia after winning a $168 million contract for Emaar’s Bay La Sun project in June.
Construction on the Ajmakan project is expected to start in the second quarter of 2009, mobilisation began on the site two months ago.
The detailed design of the project was carried out by Japanese architect Nikken Sekkei.
When finished, the development will feature a fully integrated commercial zone with business centres, residential villas, palaces and a five-star hotel.
Established by the Al Rajhi Investment Group, The Land is investing $6.15 billion in major developments in Saudi Arabia, Jordan, Bahrain, Palestine and Qatar.