Kingdom of Saudi Arabia
Riyadh Chamber of Commerce & Industry
General Directorate of Finance & Procurement — Contracts & Procurement Department
- Certificate no.
- 5
- Date
- 2025-02-18
- Hijri
- 19 Shaʻban 1446 AH
- Reference
- PAY-2024-017-05
Interim payment certificate no. (5)
For the work of January 2025
- Contract number
- RC/2024/017
- Supplier-portal reference
- 2402200225
- Contract
- Chamber investment building — business tower construction
- Contractor
- Al-Bunyan Al-Rasekh Contracting Co.
- Contractor VAT number
- 310102487310003
- Project
- The Chamber’s Investment Building — Business Tower on King Fahd Road
- Contract period
- 2024-07-01 — 2027-05-31
- Original contract value
- 14,900,000
- Current contract value
- 14,900,000
- Linked milestone
- Earthworks & foundations complete · MS-G2 Designs approved
Certificate summary (SAR)
| 1 | Total value of work completed to date | 1,428,500 |
| 2 | Less: previous certificates | (1,025,000) |
| 3 | Value of work in this certificate | 403,500 |
| 4 | Less: retention (10%) | (40,350) |
| 5 | Less: advance payment recovery (10%) | (40,350) |
| 6 | Less: delay and breach penalties | 0 |
| 7 | Total deductions | (80,700) |
| 8 | Net before VAT | 322,800 |
| 9 | Add: value added tax (15%) | 48,420 |
| 10 | Net amount payable to the contractor | 371,220 |
Amount in words: Three hundred seventy-one thousand two hundred twenty Saudi riyals only
Retention held up to this certificate: SAR 142.9K — released after final acceptance.
Work by contract item
| Item | Item value | Previous | This period | To date | Complete |
|---|---|---|---|---|---|
| Preliminaries & mobilisation | 1,043,000 | 167,150 | 63,550 | 230,700 | 22% |
| Earthworks & foundations | 2,682,000 | 260,150 | 99,850 | 360,000 | 13% |
| Concrete & structural works | 4,619,000 | 349,350 | 137,750 | 487,100 | 11% |
| Mechanical, electrical & plumbing | 3,576,000 | 170,400 | 69,600 | 240,000 | 7% |
| Finishes & external works | 2,235,000 | 68,000 | 28,400 | 96,400 | 4% |
| Testing & commissioning | 745,000 | 9,950 | 4,350 | 14,300 | 2% |
| Total | 14,900,000 | 1,025,000 | 403,500 | 1,428,500 | 10% |
Amounts in Saudi riyals.
Signatures and approvals
Contractor’s representative
Eng. Hamad S. Al-Hajri
Al-Hajri2025-02-18
Supervising engineer
Eng. Ibrahim A. Al-Ghamdi
Al-Ghamdi2025-02-20
Project manager
Eng. Ahmed Y. Asiri
Asiri2025-02-23
Finance & contracts
Khalid N. Al-Mutairi
Al-Mutairi2025-02-26
Final approver
Dr. Abdullah S. Al-Qahtani
Al-Qahtani2025-03-01