Nikken to design Saudi's Tadawul headquarters

The new headquarters of the Saudi Stock Exchange, (Tadawul) will be designed by Japanese architectural and engineering consulting firm Nikken Sekkei. The development is valued at over SR1 billion (Dh979.4 million). The practice won the design and engineering contract in a competition with six international companies out of 32 pre-qualified firms.

Mitsuo Nakamura, Chairman of Nikken Sekkei, said: "This is a very forward-thinking decision by Tadawul. The new stock exchange at the heart of King Abdulla Financial District in Riyadh, will be an intelligent building of the future."

The district will be the headquarters for the Capital Market Authority as well as Tadawul and for financial institutions and other service providers.

"In our design we strived to reflect the identity of Tadawul and incorporate several major energy saving technologies, complying with the latest Leadership in Energy and Environmental Design standards, the green building rating system, developed by US Green Building Council," said Nakamura.

Nikken Sekkei revealed the building's features would showcase a "sunlight scooper" introducing natural sunlight, photovoltaic panels to reduce energy consumption, solar shading to help reduce the cooling load, mirror ducts introducing natural light to basement levels and deep inside the building, dry mist cooling of exterior space, a cool pond to store cooled air at night to reduce day time cooling load.

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.