Diriyah Gate
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The historical district of Diriyah, one of Saudi Arabia’s major giga-projects, will be completed in time for the World Expo in 2030 – three years later than previously announced, its CEO Jerry Inzerillo said on Wednesday. The giga-projects, valued in total at more than $1.25 trillion, are competing for government and private sector resources amid funding constraints caused by lower than expected oil prices and foreign investor interest.

“It’s $64 billion – we’re on time and on budget. Now, if you look at our value, our assets, by 2030 we’ll be well over $100 billion and at some point I believe we’ll list in the future on the Saudi stock exchange,” Inzerillo told the Future Investment Initiative forum in Riyadh.

Source:https://www.agbi.com/giga-projects/2024/10/diriyah-delays-completion-date-as-projects-vie-for-funds/

Diriyah is getting a giant new entertainment venue

The Arena Diriyah will be a 20,000-seat venue where you’ll be able to catch some of the biggest sports, culture and entertainment events that come to Riyadh. Adjacent to the large arena will be a plaza – an outdoor venue where you’ll see live performances, pop-up shows and events. Surrounding the venue will be an urban park for visitors attending events and for the residents of Diriyah to enjoy. The Arena Diriyah will cover an immense 76,000 square metres and is currently one of the tallest new buildings planned for the town.

Source: https://www.timeoutriyadh.com/things-to-do/the-arena-diriyah

Saudi Real Estate Company (Al Akaria) said one of its subsidiaries, Binyah, has been awarded a contract worth SAR532 million ($142 million) by Diriyah Gate Development Authority (DGDA), for the implementation of excavation works at the mega Saudi development.

The project scope includes excavation and other related works at car parking areas A and B of the Diriyah development, said Al Akaria in its filing to Saudi bourse Tadawul.

Source: https://www.tradearabia.com/news/CONS_416774.html

Diriyah Company, formerly Diriyah Gate Development Authority (DGDA), has signed a strategic partnership with STC Group to elevate Diriyah’s technological landscape, taking a significant step in the implementation of Diriyah’s masterplan, and playing an integral role in improving quality of life, culture, and community.

According to the company, STC Group will actively provide specialised digital infrastructure services in Diriyah throughout their partnership. This includes developing wired and wireless communication networks, internet services for the main headquarters and business premises, and managed cloud security services. These services support the Diriyah community, heritage sites, and development facilities with the latest technologies while preserving its deep-rooted heritage value.

Source: https://www.constructionweeksaudi.com/news/diriyah-partners-stc

The Diriyah Gate Development Authority to spend $10 billion on Diriyah project in 2024

The Diriyah Gate Development Authority, the developer behind an ambitious plan to transform a historic Saudi town into a sprawling tourism destination, is set to splash out $10 billion on the project next year.

The $63 billion project at Diriyah, a Unesco World Heritage site northwest of Riyadh that was the ancestral home of the ruling family, is set to feature dozens of hotels and thousands of homes. The Diriyah Gate Development Authority spent $7.5 billion last year building out infrastructure at the 14 square-kilometer project, CEO Jerry Inzerillo said in an interview.

“It’s meant to be the largest pedestrian-friendly cultural heritage city,” Inzerillo said, adding that the first hotel is set to open this year. Funding so far has come from the government and foreign investors, he said. “I’ll spend $10 billion in 2024.”

Source: https://gulfnews.com/business/markets/saudi-developer-to-spend-10-billion-on-diriyah-project-in-2024-1.98968532

Long awaited construction update! In the video below, Diriyah Gate, Saudi Arabia, appears to be buzzing with construction activity, at night!



If you haven't checked out Diriyah by numbers yet, you're in for a treat:

- 5 Asset classes development: heritage and culture, Hospitality, Lifestyle and Retail, Education, Live and Work
- 19+ hotels and Resorts
- +3,000 Hotel rooms across Diriyah Gate
- 5 Museums
- 5+ Cultural academies
- 2.5 km2 will be restored at Wadi Hanifah
- 55K Direct and indirect job opportunities
- 27M Visitors by 2030
- SAR 27B Total Contribution to GDP
- SAR 20B total contribution to GNP

(For Non-Arabic speakers, the translation of the Youtube video title is "Constructions in one of the tunnels in Diriyah Project")
https://www.youtube.com/shorts/ZCUBrnaeOGw

The Diriyah Company (formerly Diriyah Gate Development Authority) - a leading Saudi master-developer that aims to transform the ancient Diriyah region into one of the world’s greatest destinations - has achieved a major construction milestone with its largest-ever concrete pour at a single location.

Source: https://www.tradearabia.com/news/CONS_408340.html

Yet another Diriyah Gate-Binyah contract has been confirmed in Saudi Arabia this week. Saudi Real Estate Company’s (Al Akaria) said its subsidiary Saudi Real Estate Infrastructure Company (Binyah) has been awarded a $145 million Diriyah Gate Company contract to design, construct, test and commission the Northern Cultural District’s P3 car park project.

Source: https://www.constructionweekonline.com/news/diriyah-gate-binyah

Renewed as Saudi Arabia’s cultural capital, the historic city of Diriyah will showcase Saudi Arabia’s 300+ years of authentic culture and history by delivering one-of-a-kind inspiring heritage experiences, educational and cultural opportunities, world-class residential living, and outstanding lifestyle offerings to include shopping, entertainment, and dining experiences.

Located just 20 minutes northwest of Riyadh’s city center, Diriyah will be transformed into one of the world’s foremost lifestyle destinations for culture and heritage, hospitality, retail, and education, and will become one of the world’s great gathering places.

At the heart of the development is the At-Turaif UNESCO World Heritage Site, an iconic mud-brick city, and the home of the First House of the Al Saud family and capital of the First Saudi State, preserved and restored for future generations.

Combining traditional Najdi architectural typology and new urbanism, Diriyah will be a place that connects emotionally with visitors and residents, promotes, and celebrates the destination’s rich heritage and reveals the origins of modern Saudi Arabia and the spiritual values in which it is rooted.

Under the mandate of Diriyah Gate Development Authority, and as one of the Public Investment Fund's projects, the project contributes to Vision 2030, by its target of 27 million local and international visitors by 2030. This supports the national tourism strategy which aims to host 100 million worldwide tourists in the Kingdom by 2030.

source - https://na.vision2030.gov.sa