PIF extends deadline for central business district in Riyadh: Report

The Public Investment Fund (PIF) extended the deadline for receiving bids to appoint a project management consultancy (PMC) for its upcoming central business district (CBD) on the outskirts of Riyadh, according to MEED.

The CBD will include a proposed two-kilometer-high tower.

The deadline for bid submission was extended to 20 March from March 4, the report said.

UK-based Foster + Partners won the design competition launched in late 2022.

According to estimates, a two-kilometer-high tower is expected to cost $5 billion, based on the project’s final design. 

The dizzying tower and the surrounding area are part of the North Pole project in the northern part of Saudi Arabia’s capital.