Press Release

01-02-2023

Tackling climate change, KAFD DMC partners with Japan’s Sumitomo

Riyadh, Saudi Arabia, 1st February 2023: The King Abdullah Financial
District Development and Management Company (KAFD DMC) has signed
a Memorandum of Understanding (MOU) with Sumitomo Corporation
Middle East FZE (SCME) to use its innovative eco-friendly coating solutions
to reduce the heat island effect on surfaces within KAFD.

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.
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The products, manufactured in Japan using state-of-the-art technology,
experience.
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 ACCEPT REJECT
the district while reducing its maintenance cost.
The MOU is intended to support KAFD's goals for smart city development
and technological advancements to create energy-efficient, intelligent
buildings.

KAFD DMC owns and manages the King Abdullah Financial District (KAFD),
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 square meters 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.

Commenting on the agreement,

Gautam Sashittal, Chief Executive Officer of KAFD DMC, said,
"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. By lowering the temperature, we will contribute to a
better living and working environment for our tenants and residents and
employees.”

Hajime Mori, Managing Director, Sumitomo Corporation Middle East FZE,

added, “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.”

Along with SCME, KAFD aims to be a beacon of energy sustainability for

other regional and global business destinations. Employing Solar Heat
Reflective coating will enable a lower-carbon lifestyle in the district,
reflecting KAFD’s commitment to sustainable solutions and combating
climate change.

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