A joint venture of China Fangda Group and Saudi Arabia’s IKK Group has won a SR1.147 billion contract to design, supply and install the façade of the Prince Mohammed bin Salman Stadium in Qiddiya, Fangda said in a Shenzhen Stock Exchange filing on Monday.
IKK Fangda JV Company signed the contract on October 18 with Uptown Stadium Construction JV, the stadium’s main contractor. The main contractor is a partnership between Spain’s FCC Construcción and Saudi Arabia’s Nesma & Partners Contracting.
The contract is worth SR1,146,877,544 including tax, or SR997,284,821 excluding tax, according to the filing. Fangda put the value at about 2.05 billion yuan.
The work covers curtain wall systems for Lot 1, the main stadium, and Lot 3, the museum and surrounding buildings. It is scheduled to take 863 days.
Fangda holds 51% of the venture through its subsidiary Shihui International Holdings. IKK owns the remaining 49% through Isam Kabbani & Partners for Building & Construction Materials.
The contract is equal to 60.70% of Fangda’s audited 2025 revenue, the company said. It will be funded from Fangda’s own resources.
The stadium sits on the edge of the 200-meter Tuwaiq cliff in Qiddiya City near Riyadh, Construction Business News Middle East reported. Designed by Populous, it is planned to seat about 45,000 people and will have a retractable roof and pitch.
It is one of the venues for the 2034 FIFA World Cup, which Saudi Arabia will host. Qiddiya Investment Company is the client.
