King Salman Park Foundation Selects Parsons for Project Management Office Services

Rhea-AI Summary

Parsons (NYSE: PSN) has secured a 25-month Project Management Office (PMO) services contract from the King Salman Park Foundation. The project involves managing a massive urban transformation initiative in Riyadh, featuring 11.6 sq km of green space and 10 sq km of built-up area.

The scope includes overseeing design, procurement, construction, and smart city initiatives implementation. The park will include the Royal Arts Complex and a 7.2 km pedestrian walkway called The Loop. Located on the former Riyadh Air Base, the project aims to plant 1 million trees and plants to enhance vegetation cover, increase green space per capita, and support biodiversity.

The development aligns with Saudi Vision 2030's Quality of Life Program, with Parsons leveraging its 80-year global expertise and 65-year regional presence in urban development, smart mobility, and landscape architecture.

Positive

• New contract win expands Parsons' presence in Saudi Arabia
• Significant project scope covering 21.6 sq km total area
• Leverages company's 65-year regional presence and expertise

Negative

• None.

CHANTILLY, Va., April 23, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has been awarded a contract for Project Management Office (PMO) services by the King Salman Park Foundation for King Salman Park. This 25-month contract marks new work for Parsons. King Salman Park is one of the world's most unique urban transformation projects, featuring 11.6 sq km of green space and over 10 sq km of built-up area. The Park includes cultural landmarks such as the Royal Arts Complex and a vibrant 7.2 km pedestrian walkway known as The Loop, among many other assets. All these elements are designed to support Saudi Vision 2030’s “Quality of Life” Program.

Parsons' responsibilities encompass supporting the delivery strategy of the King Salman Park program, as well as overseeing and reporting on the design, procurement, construction, and implementation of smart city initiatives.

"King Salman Park is an exceptional project that seamlessly integrates destination and sustainable urban development. Parsons is honored to contribute to this landmark initiative that is transforming Riyadh’s urban landscape and establishing a legacy," said Pierre Santoni, President, Infrastructure EMEA at Parsons. "Our team will utilize Parsons’ 80 years of global expertise, along with our local experience in designing and managing complex urban projects in the Kingdom, to help deliver this world-class mixed-use development project that will enhance the lives of both residents and visitors."

“Sustainability is at the heart of King Salman Park's vision. Located on the former Riyadh Air Base, the Park will transform the area with the planting of 1 million trees and plants. This initiative will significantly enhance the region's vegetation cover, increase per capita green space, and boost biodiversity, supporting local wildlife. Our plans include strategically placing trees along roadsides and near buildings to absorb CO2, increase humidity, and mitigate the heat island effect,” said George Tanasijevich, Chief Executive Officer, King Salman Park Foundation.

With over 65 years of regional presence, Parsons offers extensive expertise in urban development, smart mobility, asset management, design, sustainability, and landscape architecture within the Kingdom.

About Parsons

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

To join Parsons in creating the future of the Middle East, visit parsons.com/mea

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10c53037-342f-4a67-8df8-3e4904fa82fe

Media Contact
Lara Masri
Parsons Corporation
lara.masri@parsons.com
+971 4 4029767

Investor Relations
Dave Spille
VP, Investor Relations
Dave.Spille@Parsons.us
+1 703.775.6191

FAQ

What is the size and scope of the King Salman Park project managed by Parsons (PSN)?

The project spans 11.6 sq km of green space and over 10 sq km of built-up area, including the Royal Arts Complex and a 7.2 km pedestrian walkway called The Loop.

How many trees will be planted in the King Salman Park project by Parsons (PSN)?

The project plans to plant 1 million trees and plants to enhance vegetation cover, increase green space per capita, and support biodiversity.

What is the duration of Parsons' (PSN) PMO services contract for King Salman Park?

Parsons has been awarded a 25-month contract for Project Management Office (PMO) services.

How will the King Salman Park project contribute to Saudi Vision 2030?

The project supports Saudi Vision 2030's Quality of Life Program by transforming Riyadh's urban landscape and creating sustainable green spaces for residents and visitors.