Diriyah Giga-Project Unveils Two Multi-Billion Dollar Districts

Diriyah Company, the developer behind Saudi Arabia’s USD 63.2 billion giga-project to transform the historic city of Diriyah, has announced plans for two new multi-billion-dollar districts.

The Qurain Cultural District will feature arts, retail, office, and residential spaces, as well as a cinema, museums, and academies dedicated to writing, Najdi architecture, Arab music, culinary arts, performing arts, and theater. The district will include the 195-room Ritz-Carlton Diriyah with 165 branded residences and the Address Diriyah, offering 204 rooms and 60 serviced apartments. A SAR 5.8 billion construction contract has been awarded to a joint venture comprising Nesma & Partners, UJSC, and MAN Enterprise Al-Saudia.

The Northern District will include the King Salman Foundation, museums, a university, a library, and a public square. It will also host the newly announced Capella Diriyah, a 100-room luxury hotel. Construction on elements of the district has started following the award of a SAR 7.8 billion contract to a joint venture between China State Construction Engineering Corporation and El Seif Engineering Contracting Company.

Ground-breaking has also begun for seven luxury hotels - Raffles, Armani, Orient Express, Baccarat, Corinthia, Fauchon L’Hotel and Rosewood - adding 877 rooms to the project. These properties are part of over 40 planned hotels, offering a total of more than 6,500 rooms across the Diriyah and Wadi Safar masterplans.

The Diriyah project, one of five Saudi giga-projects backed by the Public Investment Fund, aims to provide homes for 100,000 residents, create 178,000 jobs, attract 50 million visitors annually, and contribute USD 18.6 billion to the nation’s GDP.