The King Abdullah Financial District (KAFD) in Riyadh secures the WiredScore and SmartScore building certification from global property consultancy Knight Frank, Invest-Gate reports.
WiredScore certification is a measure of a building’s digital infrastructure and connectivity. A SmartScore-certified building demonstrates cutting-edge innovation using market-leading technology, processes and automation to deliver world-class outcomes to all building users and create the most efficient, inspirational, sustainable and future-proofed building.
James Lewis, Managing Director Middle East and Africa, says: “We are constantly striving for excellence, and our business now boasts the largest team of accredited professionals for both the WiredScore and SmartScore certifications in the Middle East, something we are incredibly proud of as it reinforces our end-to-end suite of ESG-linked services in the region.”
Lewis adds, “And what better way to showcase this achievement than through our work in Saudi Arabia on the 2.14 building at KAFD and ICD Brookfield Place in Dubai, which are both iconic buildings and among the region’s finest and most sought-after business addresses.”
Ibrahim Alrashed, Manager of Valuations and Advisory at Knight Frank’s team in Riyadh, says: “This is a real milestone for KAFD. Riyadh and the kingdom. Occupiers are increasingly placing greater value on the wellbeing of their staff, and this mindset shift will drive the evolution of what is considered a grade A building today.”
WiredScore or SmartScore certifications still need to feature overtly in the equation for determining rents or the value of the commercial real estate.
Notably, with the technology sector a significant source of office requirements globally and with serviced office space increasing in popularity worldwide, digital connectivity looks set to play a more significant role in commercial real estate valuations in the future, according to Knight Frank.