RIYADH:Â Saudi Arabia Diriyah Company has secured an eight billion Saudi riyals (approximately $2.13 billion) contract dedicated to the construction of four luxury hotels and the Royal Diriyah Equestrian & Polo Club within the ambitious Wadi Safar masterplan.
The project not only underscores the Kingdom’s dedication to enhancing its tourism landscape but also represents a strategic move towards establishing Diriyah as a global destination for luxury and cultural experiences.
The awarded contract to the joint venture of Saudi contractors Urbacon and Al Bawani marks Diriyah’s largest single contract to date, following closely behind a $2.07 billion agreement for the Northern District development announced earlier this month.
The official signing ceremony witnessed key industry figures including Ramez Al Khayyat of Urbacon, Fakher Al Shawaf of Al Bawani, and Jerry Inzerillo, Group CEO of Diriyah Company, solidifying their commitment to this transformative project.
Bolstering tourism sector
Inzerillo articulated the significance of this contract, noting that it represents a cornerstone of the Wadi Safar masterplan, which aims to provide unparalleled luxury accommodations in Saudi Arabia.
The four hotels—Aman, Six Senses, The Chedi, and Faena—alongside the Royal Diriyah Equestrian & Polo Club, are poised to attract visitors from around the world, contributing to the Kingdom’s Vision 2030 goals of diversifying its economy and bolstering its tourism sector.
Moreover, the Wadi Safar project complements existing developments, including a championship golf course designed by Greg Norman, further enhancing the area’s appeal as a leisure and lifestyle hub.
The Royal Diriyah Equestrian & Polo Club, in particular, stands to celebrate and preserve the rich heritage of Arabian horses and equestrian traditions, establishing Diriyah as a center of regional excellence in equestrian sports.
Al Khayyat expressed pride in being selected for this prestigious project, emphasizing the significance of collaboration between leading Saudi construction firms and Diriyah Company.
As work is set to commence shortly, the Wadi Safar masterplan is on track to leave a lasting impact on both the local economy and the international tourism landscape, showcasing Saudi Arabia’s commitment to creating world-class destinations.
