Diriyah Secures $2 Billion for New District

Saudi Arabia’s historic city of Diriyah has awarded a substantial $2 billion contract for the development of a new mixed-use district. The agreement, the largest single contract in the company’s history, was granted to a joint venture comprising El Seif Engineering Contracting Co. and China State Construction Engineering Corp. This ambitious project, slated to commence in the third quarter of the year, will transform the northern part of Diriyah into a thriving hub encompassing educational institutions, cultural venues, modern offices, and a luxury hotel.

Upon completion, the district is expected to accommodate a population of 100, 000 residents, workers, students, and visitors. It will offer a diverse range of amenities including cultural, entertainment, and retail spaces, as well as hospitality, educational, and residential options. This development aligns with Saudi Arabia’s broader vision to diversify its economy and position Diriyah as a global cultural and tourism destination.

The project is anticipated to create over 178, 000 direct jobs and contribute significantly to the nation’s GDP by the end of the decade. As Diriyah continues to evolve, it is poised to become a prominent example of Saudi Arabia’s commitment to progress and innovation.

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