Monday 24 June 2024

King Abdullah Financial District partners with Sumitomo Corporation

RIYADH, February 1, 2023

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 environment for our tenants and residents and employees," he stated.
Cities, or metropolises, are typically warmer and have slightly higher temperatures than rural areas. This makes them "islands of heat," a thermal phenomenon that raises the temperature in urban areas, especially at night, exacerbating climate change and harming health, he added.
The products, manufactured in Japan using state-of-the-art technology, will be applied to reflect infrared radiation which in return reduces surface temperature thus extending the lifetime of the surface by minimizing the heat flow into the district while reducing its maintenance cost.     
Hajime Mori, Managing Director, Sumitomo Corporation Middle East, said: "We are honoured to have the opportunity to collaborate on this project with KAFD, implementing our advanced solutions. Sustainability is a top priority for both companies."
"With this agreement, we look forward to working with KAFD DMC and sharing our experiences to enhance energy efficiency in its facilities," he added.-TradeArabia News Service


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