Saudi Arabia's State Properties General Authority (SPGA) and the National Center for Privatisation (NCP), have announced the launch of the Expression of Interest (EoI) phase for the development of the Quality Valley project in Riyadh, under a Public-Private Partnership (PPP) model.

The project scope includes the development of the headquarters site of the Saudi Standards, Metrology and Quality Organization (SASO) in Al Muhammadiyah District in Riyadh, transforming it into an integrated mixed-use masterplan spanning over 191,000 sq m. 

The project aims to create an urban destination that combines government and commercial office spaces, retail components, as well as the development of mosques, landscaped areas, roads, and pedestrian pathways.

SPGA and NCP have invited top local and international companies and developers with relevant experience to provide design, build, finance and operation and maintenance and transfer (DBFOMT) services with a contract duration of 32 years (in addition to a 3-year construction period). 

The Quality Valley project seeks to optimise the utilisation of state assets and achieve financial sustainability, in line with Saudi Vision 2030 and the National Transformation Program. 

The project is based on enabling private sector participation in the development and operation of assets to enhance public spending efficiency and meet the demand for office spaces and logistics services in accordance with international best practices, it added.-TradeArabia News Service