The Saudi sovereign fund EIF (Events Investments Funds), officially launched by His Royal Highness Crown Prince Mohammed Bin Salman bin Abdulaziz in January 2023, is committed to financing and overseeing the development of more than 35 cultural and sports assets spread over three major cities: Taif, Jeddah and Riyadh. Egis is supporting EIF in this vast programme, in collaboration with EY.
As part of the Crown Prince's Vision 2030, this strategic partnership will stimulate local industry, increase foreign investment specifically in the sustainable events sector and support the Kingdom's efforts to diversify its economy. The EIF's assets comprise seven types: indoor arenas, art galleries, theatres, conference centres, racecourses, shooting ranges and motor racing tracks. The fund is also committed to complying with the most stringent environmental, social and governance (ESG) standards, and its strategy is based on three pillars: improving the environment, making companies more dynamic and maintaining solid governance.
Strong support for ESG criteria
Our collaboration with EIF in the Middle East is helping to generate a positive impact in the field of sustainable construction. Thanks to this mission, we are guiding the development of 35 cultural and sports buildings by advocating environmentally-friendly practices, optimising the use of resources, promoting energy efficiency and improving the quality of life of occupants.
Our support is divided into 5 phases:
Phase 1: defining the sustainable development policy that aligns with the client's ESG policy: adaptation to climate change, resilience, sustainability and respect for construction practices, respect for the environment.
Phase 2: draw up a sustainable design guide for the various asset types, highlighting five main areas of development:
- a sustainability integration approach, to ensure that every aspect of the project is aligned with sustainability objectives.
- a focus on site sustainability, optimising the use of natural resources and minimising environmental impact.
- resources, with an emphasis on energy efficiency, water management, selection of sustainable materials and waste management.
- Occupant comfort and health, by incorporating measures to improve air quality, ventilation, natural lighting and equipment acoustics.
- mobility, by encouraging sustainable modes of transport and making the facilities accessible to all.
Phase 3: creation of a technical specifications manual detailing the standards to be met to guarantee the sustainability of buildings and guidelines on the choice of materials, technologies and environmentally-friendly construction practices for each stakeholder involved in the projects, including architects, engineers, contractors and other specialists.
Phase 4: setting up a training platform for architects, engineers and specialists who will be involved in the design and construction of these 35 sports and cultural buildings. The aim of this platform is to strengthen their skills and knowledge in sustainable development, by offering specialised training focusing on best practices and innovations in the field. Thanks to this training, professionals in the construction sector will be able to implement sustainable practices in the design and construction of the facilities.
Phase 5: development of a 'quality control' plan to ensure that assets comply with the sustainable development principles defined by the policy and the design guide.