The Saudi Board of Engineers has decided to stop the implementation of buildings for its headquarters in Riyadh, Dammam and Jeddah, due to the high construction costs. The Board intends to seek other ready-made buildings to be the headquarters of the General Secretariat, and then the land for the company will be transferred to the Investment Committee to discuss the best possible ways to benefit from it to support the financial resources of the Board. And to take advantage of its financial resources to form fixed assets, develop its services provided and expand its various activities and programs.

The official spokesperson of the Saudi Council of Engineers, Engineer Abdulnasser Al-Abdullatif, attributed this approach based on the recommendation of the Value Engineering Division, which deemed it unfeasible to proceed with the implementation of the General Secretariat building in Riyadh on the land owned by the Authority due to the high costs of the building according to the approved design compared to similar buildings and considering the size of the market value of the project land.

Abdullatif said that this approach is based on the recommendation of the Value Engineering Division. <It is worth mentioning that the land has an area of “2400” m2 located on Olaya Street and its value is estimated at no less than ”24“ million riyals, as the lowest offers submitted by the contractors applying to implement the project were ”139“ million riyals. This exceeds the estimated value of the project, which was estimated at 74 million riyals.

Al-Abdullat added that the estimated value of the project was 74 million riyals. <Al-Abdullatif added that the Board of Directors of the Authority deliberated several options regarding the General Secretariat building in Riyadh and actively sought to implement it, as a meeting was held with the contractors applying to implement the project in the presence of the office of Engineer Fares Al-Fares, the designer of the project, and the meeting concluded that the contractors adhered to the prices presented in their offers, and confirmed that they represent the real value of implementing the building according to the plans and specifications for the project, and the Value Engineering Division prepared an integrated value study for the building that includes some amendments to reduce the cost, and it was found that in the best case the construction cost will reduce by 25% without compromising the requirements and standards of the project.