Saudi Arabia’s Public Investment Fund (PIF) has begun evaluating bids from global companies for a contract to provide management consulting services for the new Central Business District project on the outskirts of Riyadh, which includes the development of a massive tower with a proposed height of two kilometers.

The project management scope covers both the tower and the surrounding commercial area. Requests for proposals were issued by PIF’s “Tower Area Real Estate Development Company.”

Companies invited to submit bids include U.S.-based “Ecom,” “Jacobs,” “Parsons,” and “Turn,” as well as the UK’s “Mace.”

The British firm “Foster + Partners” will handle the design work after winning an international competition launched in late 2022.

The proposed tower is expected to surpass twice the height of Dubai’s “Burj Khalifa,” currently the world’s tallest at 828 meters, and will also exceed the under-construction tower in Jeddah, which rises over 1,000 meters.

According to preliminary estimates from contractors specializing in mega-towers, constructing a tower of this scale could cost around $5 billion, though the final cost depends on project completion.

The project, named “Rise” (Project Rise), is part of a massive urban development plan north of Riyadh known as the “North Pole.”

The initiative aims to create an integrated business and commercial environment to enhance the Saudi capital’s appeal for global investment.

Riyadh

Riyadh is the capital and largest city of Saudi Arabia, located in the central region of the Arabian Peninsula. Historically a walled oasis town and a key trade hub, it became the capital of the modern Saudi state in 1932 after King Abdulaziz Al Saud unified the country. Today, it is a bustling metropolis known for its modern skyscrapers, cultural landmarks like the Masmak Fortress, and its role as the political and financial heart of the kingdom.

Central Business District

The **Central Business District (CBD)** is the commercial and economic heart of a city, typically featuring high-rise offices, financial institutions, and retail centers. Historically, CBDs emerged during the 19th and 20th centuries as urbanization and industrialization concentrated businesses in central locations for accessibility. Today, they remain vital hubs for commerce, culture, and transportation, though many are evolving to include mixed-use spaces and residential areas.

Burj Khalifa

The **Burj Khalifa**, located in Dubai, United Arab Emirates, is the tallest building in the world, standing at 828 meters (2,717 feet). Completed in 2010, it was designed by Adrian Smith of Skidmore, Owings & Merrill and symbolizes Dubai’s rapid modernization. Inspired by Islamic architecture, the tower houses offices, residences, hotels, and an observation deck offering panoramic city views.

Jeddah tower

The **Jeddah Tower** (formerly known as Kingdom Tower) is a skyscraper under construction in Jeddah, Saudi Arabia, designed to surpass the Burj Khalifa as the world’s tallest building upon completion. Initially announced in 2011 with a planned height of over 1,000 meters (3,280 feet), the project faced delays due to economic and logistical challenges but remains a key part of Saudi Arabia’s Vision 2030 to modernize and diversify its economy. Once finished, it will feature luxury residences, hotels, and observation decks, symbolizing the kingdom’s ambition and architectural innovation.

Rise (Project Rise)

“Project Rise” is a global philanthropic initiative by the Dabur Group, launched in 2020, aimed at empowering underprivileged communities through healthcare, education, and livelihood programs. Focused on India and other regions, it supports COVID-19 relief, women’s empowerment, and sustainable development. The project reflects Dabur’s commitment to corporate social responsibility and long-term community upliftment.

North Pole

The North Pole is the northernmost point on Earth, located in the Arctic Ocean and covered by shifting sea ice. Unlike the South Pole, it has no landmass and is not part of any country, though several nations have made territorial claims in the region. Historically, it has been a symbol of exploration, with Robert Peary famously claiming to have reached it in 1909, though this remains disputed. Today, it is a focal point for climate research due to its rapidly melting ice.

Public Investment Fund (PIF)

The **Public Investment Fund (PIF)** is Saudi Arabia’s sovereign wealth fund, established in 1971 to support the country’s economic development through strategic investments. Managed by the Saudi government, the PIF plays a key role in Vision 2030, diversifying the economy by funding major projects like NEOM, renewable energy initiatives, and global ventures. With over $700 billion in assets, it has become one of the world’s largest and most influential sovereign wealth funds.

Foster + Partners

Foster + Partners is a renowned British architectural firm founded by Sir Norman Foster in 1967, known for its innovative and sustainable designs. The firm has created iconic structures worldwide, such as London’s 30 St Mary Axe (the “Gherkin”) and Apple Park in California. Combining cutting-edge technology with environmental consciousness, Foster + Partners has shaped modern architecture with a focus on functionality and aesthetic excellence.