US Parsons wins SAR 210M contract to develop parks in Diriyah

Core Insights - Parsons Corporation has secured a SAR 210 million ($56 million) contract for the development of Phase II of the Diriyah project, a significant initiative under the Public Investment Fund (PIF) [2] - The contract encompasses design, supervision, and project management services, focusing on parks, green spaces, and civic infrastructure over a span of 55 kilometers [3] - The Diriyah project, valued at $63.2 billion, aims to create a pedestrian-centered urban area for 100,000 residents and attract around 50 million visitors annually [4] Company and Industry Summary - Parsons has been collaborating with PIF since 2017 on major projects in Saudi Arabia, including NEOM The Line and NEOM Oxagon [5] - The partnership with Parsons is expected to expedite the development of the Diriyah project, enhancing its potential as a key urban destination [4]