Saudi Arabia resumes work on King Abdullah Financial District
Saudi Arabia resumed construction works on the King Abdullah Financial District (KAFD) in Riyadh, planning to complete the project by Oct 2020 before the G20 summit, MEED cited a source familiar with the matter as saying. Construction of the 73-building KAFD began in 2006, but the project was plagued by delays and cost overruns and struggled to find tenants. MEED added that the construction work was 70% complete. The Public Investment Fund (PIF) took control of the financial hub from the Saudi Public Pension Agency in 2016/17.
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