A landmark giga project set to transform the kingdom’s heritage into a global destination.
Just a few kilometers from Riyadh’s bustling center, one of the world’s most ambitious urban development projects is redefining Saudi Arabia’s cultural and economic landscape. Diriyah Gate, a visionary giga project backed by the Public Investment Fund, is transforming 14 square kilometers of historic land into a global destination of heritage, luxury, and innovation.
The ‘City of Earth’ is set to be a people-centric hub, offering homes for nearly 100,000 residents, state-of-the-art offices for tens of thousands of professionals, and a vibrant mix of arts, culture, entertainment, and education. The development will include an opera house, a 20,000-seat arena, luxury shopping precincts, a Greg Norman-designed golf course, and an equestrian and polo center. Up to 40 world-class hotels will line its streets, complemented by a university, schools, restaurants, and cafes.
A Cultural and Economic Powerhouse
As one of Saudi Arabia’s five major giga projects, Diriyah Gate is expected to contribute over $18 billion to the Kingdom’s GDP and attract approximately 50 million visitors annually. The revitalization of the UNESCO-listed At-Turaif District and the opening of Bujairi Terrace in December 2022 marked the project’s early milestones, already drawing over three million visitors.
In the past year, significant developments have propelled Diriyah forward:
- First luxury hotel opening: The 134-room Bab Samhan, a Luxury Collection Hotel, will welcome guests in late 2024, followed by the debut of Michelin-starred chef Michael Mina’s Taleed restaurant in 2025.
- Media & Innovation District launch: Unveiled at MIPIM in Cannes, this dynamic hub will cater to media and technology professionals, featuring 450 residential units, a 325-room 1 Hotel, and premium dining outlets.
- Qurain Cultural District investment: A $1.55 billion contract was awarded to develop this cultural epicenter, which will house a Digital Art Museum, a Creative Writing Academy, an Arab Music School, and two luxury hotels, including The Ritz-Carlton Diriyah and Address Diriyah.
- Northern District expansion: A $2.08 billion contract was signed to construct educational institutions, cultural assets, offices, and a high-end hotel, led by CSCEC and El Seif Engineering.
- Wadi Safar and equestrian excellence: A joint venture contract has been awarded for the Royal Diriyah Equestrian and Polo Club, along with four ultra-luxury hotels.
- Diriyah Square retail boom: A 400-store shopping precinct at the heart of a pedestrianized urban landscape will blend retail with residential and dining experiences.
- Luxury residences surge: High-end branded residences from Ritz-Carlton, Raffles, Capella, Armani, and Oberoi have seen record demand, with 106 Ritz-Carlton Residences and 10 Oberoi Residences selling out in Wadi Safar.
- Infrastructure advancements: Two major electricity substations, built in collaboration with the Saudi Electricity Company in a $310 million deal, enhance Diriyah’s power capacity.
- Unprecedented investment in construction: By the end of 2024, the project had announced cumulative construction contracts worth $19.6 billion, including $8.7 billion in 2024 alone, with even greater investments forecast for 2025.
A Vision Becoming Reality
Reflecting on Diriyah’s rapid progress, Group CEO Jerry Inzerillo remarked: “At Diriyah, we are bringing our masterplans to reality—announcing exciting new districts, opening an increasing number of assets, and welcoming world-class brands like Dolce & Gabbana. We are building the cultural capital of Saudi Arabia, blending tradition with future-forward innovation.”
As Diriyah Gate continues its transformation, it stands as a beacon of Saudi Arabia’s Vision 2030, ensuring the Kingdom’s rich history is not only preserved but elevated to global prominence. This unparalleled development is set to be a lasting symbol of cultural heritage, economic prosperity, and urban innovation.
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