Diriyah signs SAR 8B deal with 2 companies

Snapshot of the agreement signing

Diriyah Co. signed today, July 24, a SAR 8 billion contract to four luxury hotels and the Royal Equestrian and Polo Club in Wadi Safar, Diriyah. This project is part of the master plan for the region, in collaboration with Bawani Co. Ltd. and UrbaCon Trading & Contracting.

The construction work is expected to start soon on this project, which represents another significant phase for the Diriyah project. These companies will work on the core part of the master plan for Wadi Safar, Saudi Press Agency reported.

For more news and details on the projects

Jerry Inzerillo, CEO of Diriyah Group, said: “This project is a major and important step in accelerating our development plans for the Wadi Safar area in Diriyah. The project includes four world-class luxury hotels: Aman, Six Senses, The Chedi, and Faena, in addition to the Royal Equestrian and Polo Club.”

These hotels are part of more than 40 hotels planned in the Diriyah and Wadi Safar projects, he added, pointing out that the equestrian center will be a regional center of excellence, based on the rich heritage and long history of the Arabian horse and Saudi equestrian traditions.

This contract follows a previous announcement earlier this July of another contract valued at SAR 7.8 billion to build a new multi-use area north of Diriyah.

Diriyah Gate Development Autority started the first phase of rehabilitating and developing historic Diriyah in June 2020, with a value of SAR 75 billion. The master plan covers an area of 7 square kilometers and includes a variety of tourism and entertainment destinations, according to data compiled by Argaam.