IKK Fangda JV has won a $306 million specialized curtain-wall contract for the Prince Mohammed bin Salman Stadium project in Qiddiya, covering the main arena, museum and surrounding structures as construction progresses on a key 2034 FIFA World Cup initiative in Saudi Arabia.
Contract Terms and Partnership Structure
The collaboration was established through Shihui International Holdings, a China Fangda Group subsidiary holding a 51% stake, and Isam Kabbani & Partners for Building & Construction Materials, an IKK Group entity controlling the remaining 49%.
According to the deal, IKK Fangda JV will execute curtain-wall engineering for Lot 1, encompassing the main stadium, and Lot 3, which includes the museum and ancillary structures. The work scope involves designing, supplying materials and installing building envelope systems. The agreement spans 863 days, matching roughly two years and five months.
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The contract was finalized with Uptown Stadium Construction JV, the stadium’s primary contractor, which is a group composed of Spain’s FCC Construcción and Saudi Arabia’s Nesma & Partners. This distinction matters because Uptown Stadium Construction JV serves as the main contractor, while IKK Fangda JV operates as a specialist subcontractor for the curtain-wall component.
The Prince Mohammed bin Salman Stadium is located in Qiddiya City on the 200-metre-high Tuwaiq cliff, roughly 40 minutes from Riyadh. Designed by Populous, the multi-purpose facility will accommodate about 45,000 spectators and host major sports, entertainment and cultural events. The design features a combined retractable roof, pitch and LED wall, enabling the venue to adapt for varied event configurations. It is also slated as a home ground for Saudi Pro League teams Al-Hilal and Al-Nassr.
The stadium is among those planned for the 2034 FIFA World Cup and forms part of the broader Qiddiya City development, which integrates major sports, entertainment, cultural, residential and hospitality elements. For Fangda Group, this project signifies a substantial expansion of its curtain-wall operations in Saudi Arabia. The firm has previously identified the Middle East as a critical market for its global façade activities, including work in the UAE and emerging opportunities in Saudi Arabia. The Qiddiya award is projected to reinforce Fangda’s regional standing while adding a large-scale stadium to its international portfolio.
