Saudi: King Abdullah Financial District partners with Sumitomo Corporation

Saudi: King Abdullah Financial District partners with Sumitomo Corporation

Saudi Arabia - The King Abdullah Financial District Development and Management Company (KAFD DMC) has signed a MoU with Sumitomo Corporation Middle East (SCME) to use its innovative eco-friendly coating solutions to reduce the heat island effect on surfaces within KAFD.

KAFD DMC owns and manages the King Abdullah Financial District, the largest mixed-use development in the region and Saudi Arabia’s prime financial hub.

Strategically located in the heart of Riyadh, KAFD is home to 1.6 million sq m of state-of-the-art office space, world-class venues and iconic luxury residences and is the largest Leed-certified mixed-use financial district in the world. A landmark development, KAFD is a cornerstone initiative of Vision 2030.

The agreement is intended to support KAFD's goals for smart city development and technological advancements to create energy-efficient, intelligent buildings, said a top official.

"Combatting climate change is a priority for KAFD as a modern, sustainable metropolis. It’s estimated that by 2030, 1.9 billion people will be exposed to heat stress, and this collaboration with Sumitomo is an excellent opportunity for the district to develop heat resilience and sustainable cooling solutions," remarked Gautam Sashittal, the Chief Executive Officer of KAFD DMC.

"By lowering the temperature, we will contribute to a better living and working