Financial first for KSA

Financial first for KSA
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The redevelopment of Riyadh’s urban heartland is picking up pace with the emerging King Abdullah Financial District the first in a series of groundbreaking projects redefining the skyline and positioning the city as a world-class financial hub.

Riyadh’s new financial district is a model not only for the future of sustainable design, but also for the development of the Kingdom. Conceived as part of the overall economic diversification programme, the masterplan for the King Abdullah Financial District was designed by Henning Larsen Architects, who were briefed to create a sustainable urban core for the city while drawing on inspiration from the Arabian landscape.

The result is an integrated community with a modern take on the traditional wadi concept flowing through the development and acting as an open promenade to link together more than three million square metres of financial institutions, retail, residential towers, sports facilities and cultural centres including a museum and mosque. 

King Abdullah Financial District will feature 34 towers and include 62,000 parking spaces and accommodate 12,000 residents as well as creating 44,000 new jobs. Grade A office space will also form part of the development which will be complemented by a number of hotels as well as a conference centre, located within easy reach of the airport and close to the main business district of Olaya.

Sustainable transportation is a key element of the project with a monorail system and pedestrian skywalk connecting the various zones. In addition to the monorail, with its six stations, there will also be plenty of bicycle parking spots and changing rooms for cyclists.

Green Focus

Environmental considerations are also integrated into every aspect of the development in line with the grand aim of limiting energy consumption to 50 per cent of the average usage in Riyadh, from the skywalk footbridges powered by solar power to the use of landscaping featuring shading devices, such as movable awnings, designed to reduce solar heat gain. The introduction of green roofs and intelligent lighting will further reduce energy consumption.

King Abdullah Financial District is already seeking green accreditation and a raft of measures are already positively impacting the construction phase, with 50 per cent of construction waste diverted from landfill and incinerator disposal as part of a comprehensive waste management system.
LEED requirements also mean that water consumption must be reduced by 20 per cent, and this is being achieved using dual-flush toilet systems and low water flow fittings, as well as the widespread use of grey water throughout the district’s buildings.

Other measures include the use of low ultra-violet materials, heat recovery systems and efficient light fixtures to effect a 10 per cent reduction in energy use, along with the lofty objective of using at least 50 per cent recycled materials where possible.

King Abdullah Financial District isn’t the sole advocate of green design in the city. Only. Under the auspices of the Arriyadah Development Authority (ADA), a long list of projects are either under development or in the pipeline, with environmental controls and anti-pollution measures an integral part of the future plan. As part of the King Fahad Road project, a pollution-controlling programme has been developed to monitor as well as address the issue of air pollution.

Remodelling Riyadh

The Arriyadah Development Authority is working on a series of projects and initiatives designed to transform Riyadh and its outlying districts into a model city for the future. Cityscape magazine looks at some of the projects under development.

New Networks

According to a recent government study, traffic is growing at the same rate as the city’s population. Riyadh’s road network plays an important role in grouping and defining the architectural landscape of the city and the government has allocated substantial resources to developing a modern transportation system that will facilitate the flow of traffic within the city as well as increasing connectivity between Riyadh and other key destinations in the Kingdom.

A programme of ongoing improvements and expansion is focusing fast highway connections from north to south on King Fahad Road and from east to west on Makkah Road, as well as the development of a much-needed ring road system. In total, some 1,322 kilometres of highway and road systems are being developed, complemented 1,600 kilometres of service roads and 12,700 kilometres of ‘local’ streets.

Cultural Content

The Authority is also investing time and resources into developing the city’s cultural component, which has seen the opening of the new Masmak Museum -which houses permanent and rotating exhibits showcasing the path to unification of the Kingdom – as well as a number of other initiatives.

Riyadh’s Embassies Quarter also now boasts a Science Oasis, which was launched to contribute to the enrichment of Riyadh’s cultural life. This interactive museum features exhibits specially selected to communicate the important role of Arab and Muslim scholars in different areas of science and their contribution to human knowledge, with a particular focus on outer space and astronomy.

Rural Renewal

The natural beauty of he landscape surrounding Riyadh is also enjoying government attention and investment into a number of projects, one of which is the Thumamah Open Resort, located 85 kilometres north-east of Riyadh. A newly designated national park, Arriyadah Development Authority has been tasked with the development of the 170-square-kilometre site, which is being rezoned as a recreational destination and cultural centre. The Authority is calling on the private sector to get involved in the project and has developed a general investment prospectus to showcase the different investment opportunities.

Another high profile project is the development of the nearby town of Ad’Diriyah, which overlooks the famous Wadi Hanifa. A site of historical importance, as the capital of the first Saudi state, the preservation of this historic town is being strictly monitored as the government seeks to enrich the cultural landscape and drive social and economic development in the region. A heritage village and museum, Islamic heritage centre, field studies section and traditional model farm are all under development. The Authority is also using the project as a platform to involve local expertise in economic and construction-led development as well as to - once again - encourage private sector participation.

From the Cityscape magazine.

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