IKK Fangda JV wins Qiddiya stadium façade contract

A joint venture between China’s Fangda Group and Saudi Arabia’s IKK Group has secured a contract to build the façade of Prince Mohammed bin Salman Stadium in Qiddiya. The contract is valued at SAR 1.147 billion (US$306 million), including VAT. Excluding VAT, its value is SAR 997 million.

IKK Fangda JV Company signed the agreement on 18 October with Uptown Stadium Construction JV, the stadium’s main contractor. Uptown Stadium Construction JV is a partnership between Spain’s FCC Construcción and Saudi Arabia’s Nesma & Partners Contracting. Qiddiya Investment Company is the client.

The joint venture will design, supply and install curtain wall systems across two project lots. Lot 1 covers the main stadium, while Lot 3 includes the museum and surrounding buildings. The works are scheduled to take 863 days.

Fangda holds 51 per cent of IKK Fangda JV through its subsidiary Shihui International Holdings. IKK Group owns the remaining 49 per cent through Isam Kabbani & Partners. Fangda is listed in Shenzhen.

Fangda announced the contract in a stock exchange filing on 19 October. The company said the award is equivalent to about 60.7 per cent of its audited 2025 revenue. The contract adds to Fangda’s international order book as it expands further into the Middle East.

The stadium is located on the edge of the 200-metre Tuwaiq cliff in Qiddiya City, close to Riyadh. US firm Populous designed the venue, which is planned to seat about 45,000 people and have a retractable roof and pitch.

The stadium is among the venues lined up for the 2034 FIFA World Cup, which Saudi Arabia will host. The façade contract covers the stadium as well as the museum and surrounding buildings under Lot 3.