Kingdom of Saudi Arabia
Riyadh Chamber of Commerce & Industry
General Directorate of Finance & Procurement — Contracts & Procurement Department
- Certificate no.
- 7
- Date
- 2025-05-23
- Hijri
- 25 Dhuʻl-Qiʻdah 1446 AH
- Reference
- PAY-2024-017-07
Interim payment certificate no. (7)
For the work of May 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
- Structure complete · MS-G3 Build complete
Certificate summary (SAR)
| 1 | Total value of work completed to date | 2,334,500 |
| 2 | Less: previous certificates | (1,822,500) |
| 3 | Value of work in this certificate | 512,000 |
| 4 | Less: retention (10%) | (51,200) |
| 5 | Less: advance payment recovery (10%) | (51,200) |
| 6 | Less: delay and breach penalties | 0 |
| 7 | Total deductions | (102,400) |
| 8 | Net before VAT | 409,600 |
| 9 | Add: value added tax (15%) | 61,440 |
| 10 | Net amount payable to the contractor | 471,040 |
Amount in words: Four hundred seventy-one thousand forty Saudi riyals only
Retention held up to this certificate: SAR 233.5K — released after final acceptance.
Work by contract item
| Item | Item value | Previous | This period | To date | Complete |
|---|---|---|---|---|---|
| Preliminaries & mobilisation | 1,043,000 | 297,750 | 79,250 | 377,000 | 36% |
| Earthworks & foundations | 2,682,000 | 463,250 | 125,050 | 588,300 | 22% |
| Concrete & structural works | 4,619,000 | 621,050 | 175,000 | 796,050 | 17% |
| Mechanical, electrical & plumbing | 3,576,000 | 302,200 | 90,000 | 392,200 | 11% |
| Finishes & external works | 2,235,000 | 120,500 | 37,100 | 157,600 | 7% |
| Testing & commissioning | 745,000 | 17,750 | 5,600 | 23,350 | 3% |
| Total | 14,900,000 | 1,822,500 | 512,000 | 2,334,500 | 16% |
Amounts in Saudi riyals.
Signatures and approvals
Contractor’s representative
Eng. Hamad S. Al-Hajri
Al-Hajri2025-05-23
Supervising engineer
Eng. Ibrahim A. Al-Ghamdi
Al-Ghamdi2025-05-25
Project manager
Eng. Ahmed Y. Asiri
Asiri2025-05-28
Finance & contracts
Khalid N. Al-Mutairi
Al-Mutairi2025-05-31
Final approver
Dr. Abdullah S. Al-Qahtani
Al-Qahtani2025-06-03