USD 2.13 Billion Contract Announced For Four Hotels & Equestrian Club
Part of a long-term plan for the development of Wadi Safar, this is the biggest contract for Diriyah Company to date.
A SAR 8 billion (USD 2.13 billion) contract has been announced between Diriyah Company and two leading Saudi construction firms, Urbacon Saudi and Al Bawani, to build four world-class luxury hotels and the Royal Diriyah Equestrian & Polo Club. The four luxury hotels are Aman, Six Senses, The Chedi, and Faena.
As the biggest contract to date for Diriyah Company, the Wadi Safar deal narrowly follows a USD 2.07 billion deal for construction of the Northern District earlier this month. The deal is part of Diriyah Company’s long-term plan for Wadi Safar, which includes the ongoing development of a signature golf course and the Royal Diriyah Golf Club.
The contract was signed by Ramez Al Khayyat, President of Urbacon Saudi Company, Fakher Al Shawaf, the CEO of Al Bawani Company and Jerry Inzerillo, the Group CEO of Diriyah Company, at a ceremony held in Diriyah.
