Press Release

01 - 02- 2023

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

Ri yad h, Saud i A rabi a, 1 st February 20 23: Th e Ki ng Abd ulla h Financ ial

Di stric t D evel opment and Ma nag em ent Com pa ny (KAF D DMC ) ha s si gned
a Me morand u m of Und erstand ing (MOU) wi th Sum ito mo Cor po ra tion
Mi ddle Ea st FZE (SCME) to u se it s in nova tive ec o-friend ly c oati ng so luti on s
to red uce the heat i sl and effe ct o n su rfac es wi th in K AFD .

Ci ties, or me trop oli ses, are typi cally war mer and h ave slig htly hi ghe r
te mperatu res than ru ral area s. T his mak es th em "i sla nds of hea t, " a the rmal
ph eno men on tha t ra ises the tempe rature in u rban a rea s, espec i ally a t
ni ght, exacerb ati ng c lima te c hange and harmin g he alth .
By accessing KAFD website, you accept our use of cookies to improve user
Th e produ cts , ma nuf act ured in Jap an usi ng state -of- the- art tec hnol ogy,
experience.
wi ll be ap plie d to refl ect i nfrared rad iation w hic h in ret urn redu c es sur face
te mperatu re thus ext end ing the li fetime of th e su rface by min imi zing the
he at f low into ACCEPT REJECT
the district whi le re duc ing its m ai nten anc e co st.
Th e MO U is intended t o support KAFD 's goals for smart cit y develo pment
and techn olo gi cal a dva ncem en ts to c reat e e nerg y-e ffic ient, in telli gen t
bu i ldi ngs.

KA FD DMC ow ns a nd manage s th e K ing A bd ulla h Fin anc i al District (KA FD) ,

th e la rgest m ixed -use de velo pme nt i n th e re gio n an d S au d i Ara bia ’s p rime
fin anc i al hub . Strateg ica lly lo cat ed i n th e he art of Riyad h, K AFD is hom e to
1.6 m i llio n sq uare meters o f state -of- the -art off ice spa ce, wo rld-c las s
ve nues a nd icon ic l uxu ry resi d enc es and is the larg est LE ED- cert ified
mi xed -use fin anc ial d istri ct i n th e wo rld . A land mark de velo pm ent, KAF D i s
a corn erst one ini tiati v e o f Vi sion 203 0.

Co mm ent ing on the agr eem ent ,

Ga utam Sas hittal, Chi ef Exe cuti ve Of fice r o f K AFD DMC , sai d ,
"C omb atti ng c lim ate cha nge is a prio rity for KAFD a s a m od ern, sustain able
me tro poli s. It’s estima ted that by 20 30, 1 .9 b illio n pe ople wi ll be expose d to
he at stress, and th is coll abo ratio n with Sumi tom o i s a n e xce llen t
op portuni ty f or the dist rict to dev elop he at resi lien ce a nd sustain able
co olin g so lut ions. By lo weri ng the tem peratu re, we wi ll con tribu te to a
be tter liv i ng and wo rkin g en viro nm ent for our tenants an d re sid ents and
em plo yee s.”

Haji m e M ori , Ma nag i ng Di re ctor, Su mitomo Co rporatio n M idd le E ast FZE ,

ad ded , “We are hon oure d to ha ve the opp ortu nity to co ll abo rate on thi s
projec t with K AFD, im ple menti ng ou r ad van ced sol utio ns. Sustainab ili ty i s
a top prio ri ty for both co mpa nie s. With this agreem ent, we loo k fo rward to
wo rkin g w ith KAFD DMC an d sh arin g o ur e xperienc es to e nh ance en ergy
ef fi cie ncy in i ts fac ili ties. ”

Al ong with SC ME , KA FD aim s to be a b eac on o f e nerg y sustai nab ility fo r

oth er regi onal and glob al busi nes s de sti nati o ns. Em ploying Sol ar Hea t
Re flec ti ve co ati ng will ena ble a lo we r-ca rbo n li festyle in the dist rict ,
re flec ting KA FD’ s co mm itm ent to sustaina ble so lutio ns and co mba ting
cli mat e ch ang e.

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