Diriyah Co. Announces $2 Billion Construction Deal for Mega Complex
In a groundbreaking move, Diriyah Co. has unveiled a monumental SR7.8 billion ($2 billion) construction deal for a mixed-use complex in the region’s north, as reported by the Saudi Press Agency.
A Project Like No Other
This contract, the largest in Diriyah’s development history, will pave the way for a sprawling development that seamlessly integrates advanced educational facilities, cultural landmarks, cutting-edge office spaces, and a luxurious hotel. Bringing together elite developers from around the globe, this project is set to redefine the region’s landscape.
Key Players Seal the Deal
The agreement was officially signed by Jerry Inzerillo, group CEO of Diriyah Co., Ahmed Al-Bassam, CEO of El-Seif Engineering Contracting, and Chuanhai Wei, CEO of the Saudi branch of the China State Construction Engineering Corp. This collaboration marks a significant milestone in the development of Diriyah.
Building for the Future
Construction is set to kick off in the third quarter of 2024, with high hopes for the transformative impact this project will have on the region.
A Vision for Growth and Prosperity
Inzerillo emphasized the importance of this agreement, highlighting Diriyah’s ambition to become a global tourist destination and cultural hub. This deal also underscores the growing economic ties between Saudi Arabia and China, showcasing the strength of their commercial partnerships.
Unleashing Economic Potential
This deal is not just about construction – it’s about unlocking substantial economic opportunities for the Kingdom. By attracting foreign investment, creating jobs, and boosting the GDP, this project aims to solidify Diriyah’s reputation as a global beacon of heritage and culture.