EVIQ, Riyadh Development Company sign strategic agreement to enhance charging infrastructure for EVs

Logo of Riyadh Development Company

Riyadh Development Company signed a strategic agreement with Electric Vehicle Infrastructure Company (EVIQ), a Public Investment Fund (PIF) subsidiary specialized in developing and operating electric vehicles (EVs) charging stations. This agreement aligns with both parties’ efforts to enhance sustainable transportation infrastructure in the Kingdom, in line with the Saudi Vision 2030 and the Kingdom’s environmental sustainability goals.

This partnership aims to develop charging station locations on assets owned by Riyadh Development Company, contributing to Riyadh's transformation into a smart and sustainable city while optimizing the company's asset utilization to enhance sustainable investment returns. The agreement also reflects the role of the Private Sector Forum, affiliated with the PIF, in enabling effective partnerships between PIF-owned companies and the private sector.

Commenting on the agreement, Jihad bin Abdulrahman Al-Qadi, CEO of Riyadh Development Company, said: “At the beginning of 2023, we launched our company’s strategy under the slogan 'Investing for Growth', committing to a broader sustainability approach, including environmental sustainability. This strategic partnership agreement aligns with our commitment to advancing sustainable infrastructure solutions for the city as a whole, with a particular focus on our real estate projects. The agreement enables us to further optimize the use of our assets while enhancing the experience of visitors and residents by offering more comprehensive solutions while preserving environmental gains, supporting the transition to electric mobility and strengthening Riyadh’s position as a sustainable urban hub."

Mohammed bin Bakr Qazzaz, CEO of EVIQ, stated: "We are thrilled to collaborate with Riyadh Development Company to expand the network of charging stations in the Kingdom. Our goal is to deploy more than 5,000 fast chargers at strategic locations across the Kingdom by 2030, supporting our aspirations for a more sustainable transportation future and reinforcing EVIQ’s role in providing advanced infrastructure to facilitate the transition to electric vehicles."

The agreement was signed by Jihad Al-Qadi, CEO of Riyadh Development Company, and Mohammed Qazzaz, CEO of EVIQ, during the Private Sector Forum 2025.