Kingdom of Saudi Arabia
Riyadh Chamber of Commerce & Industry
General Directorate of Finance & Procurement — Contracts & Procurement Department
- Certificate no.
- 16
- Date
- 2026-07-18
- Hijri
- 4 Safar 1448 AH
- Reference
- PAY-2024-017-16
Interim payment certificate no. (16)
For the work of June 2026
- 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 | 5,924,000 |
| 2 | Less: previous certificates | (5,697,500) |
| 3 | Value of work in this certificate | 226,500 |
| 4 | Less: retention (10%) | (22,650) |
| 5 | Less: advance payment recovery (10%) | (22,650) |
| 6 | Less: delay and breach penalties | 0 |
| 7 | Total deductions | (45,300) |
| 8 | Net before VAT | 181,200 |
| 9 | Add: value added tax (15%) | 27,180 |
| 10 | Net amount payable to the contractor | 208,380 |
Amount in words: Two hundred eight thousand three hundred eighty Saudi riyals only
Retention held up to this certificate: SAR 592.4K — released after final acceptance.
Work by contract item
| Item | Item value | Previous | This period | To date | Complete |
|---|---|---|---|---|---|
| Preliminaries & mobilisation | 1,043,000 | 924,900 | 31,800 | 956,700 | 92% |
| Earthworks & foundations | 2,682,000 | 1,441,250 | 51,600 | 1,492,850 | 56% |
| Concrete & structural works | 4,619,000 | 1,942,350 | 77,750 | 2,020,100 | 44% |
| Mechanical, electrical & plumbing | 3,576,000 | 951,700 | 43,550 | 995,250 | 28% |
| Finishes & external works | 2,235,000 | 381,050 | 18,800 | 399,850 | 18% |
| Testing & commissioning | 745,000 | 56,250 | 3,000 | 59,250 | 8% |
| Total | 14,900,000 | 5,697,500 | 226,500 | 5,924,000 | 40% |
Amounts in Saudi riyals.
Signatures and approvals
Contractor’s representative
Eng. Hamad S. Al-Hajri
Al-Hajri2026-07-18
Supervising engineer
Eng. Ibrahim A. Al-Ghamdi
Al-Ghamdi2026-07-20
Project manager
Eng. Ahmed Y. Asiri
Asiri2026-07-23
Finance & contracts
Khalid N. Al-Mutairi
Al-Mutairi2026-07-26
Final approver
Dr. Abdullah S. Al-Qahtani
Al-Qahtani2026-07-29