Marlton-based construction management company Hill International announced Tuesday it has received a contract extension to continue providing project management services in connection with development of the $7.8 billion King Abdullah Financial District in Riyadh, Saudi Arabia.
According to the announcement, the one-year contract extension, awarded by the Public Pension Agency of the Kingdom of Saudi Arabia, has an estimated value to Hill of approximately $6.6 million. The Financial District site includes about 17.2 million square feet and the $7.8 billion development is expected to have floor space of more than 32.3 million square feet.
It is expected to be the headquarters for the Capital Market Authority, the Tadawul Stock Exchange and other major financial institutions, as well as a location for financial service providers such as accountants, auditors, lawyers, analysts, rating agencies, consultants and technology provider, Hill said in a statement.
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