KAFD awarded by CIPS for achieving Procurement Excellence
Riyadh, Saudi Arabia, 27 November, 2022 – King Abdullah Financial District Development & Management Company (KAFD DMC) has been honoured with the prestigious Procurement Excellence programme by the Chartered Institute of Procurement & Supply (CIPS).
PEP is a globally-recognised award presented to those organisations demonstrating excellence in their procurement and supply chain activities. The award drives regular improvements, value across supply chains and highlights procurement’s role as a fundamental part of an organisation’s strategy and effectiveness.
KAFD DMC’s procurement team accomplished this feat in just five months, a distinctive accomplishment benchmarked against the wider industry. KAFD DMC is only the second company in the Kingdom to achieve this standard. The award was presented at a special ceremony attended by Gautam Sashittal, KAFD CEO and Sam Achampong, Managing Director CIPS in the KAFD Conference Centre.
KAFD DMC is a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund and oversees the development of King Abdullah Financial District. KAFD is a landmark project and a key driver of Riyadh’s economic ambitions. Set in the heart of the capital, KAFD is home to 1.6 million square meters of state-of-the-art office space, world-class entertainment venues and iconic luxury residences.
CIPS is the world’s largest professional body for procurement and the supply chain in most regions of the world. It is the standard bearer for the industry in terms of defining and promoting best practices. Recognising robust and effective governance processes, the CIPS Procurement Excellence Programme is an independent and comprehensive assessment of organisation’s procurement functions, which is designed and delivered by world-class, leading specialists.
Gautam Sashittal, CEO KAFD, said, “The award is a testament to KAFD’s commitment to making sustainable practices central to the district’s supply and management. As the world’s largest LEED-certified neighbourhood, KAFD is committed to maintaining high standards of energy efficiency and reducing water use, as well as ensuring sustainable practices across procurement processes. This award from CIPS is yet another stamp of global credibility on KAFD’s international reputation in this regard. We are immensely proud of our team for achieving this award in record time.”
Sam Achampong, Managing Director CIPS, explained, “This award recognises the hard work of talented professionals in the industry, and increases their credibility. The subject of sustainability is gradually being integrated into every segment of industries, which has helped strike meaningful collaborations, and attract excellent vendors.”