2023/11/17
Qiddiya Investment Company (QIC) has awarded a contract worth up to $1.9bn to a joint venture between El-Seif Engineering Contracting and Alec Contracting Company to construct the Speed Resort and a group of buildings around the Formula Race Track in Qiddiya.
The initial scope of works includes the construction of the following:
・A karting track
・A passenger ride experience
・A driving experience
・A range of other fun-filled activities
Later works, which are still at the design stage, could take the final value of the works up to $5 bn.
Construction is expected to begin in early 2024 and be completed by late 2025.