Diriyah inks SAR 7.8B contract to develop new area

Diriyah Co. signed today a contract worth more than SAR 7.8 billion ($2 billion) with El Saif Engineering Contracting Co., in partnership with China State Construction Engineering Corporation Ltd (CSCEC) to implement a large-scale building and construction project in the northern region of Diriyah.

This is the biggest construction contract awarded in the history of Diriyah development so far, said the company, noting that construction work is scheduled to begin starting from Q3 2024.

The project will feature the construction of a multi-use area, which includes advanced educational institutions, cultural sites, modern offices, and a luxury hotel. This will contribute to the completion of the Diriyah development project, which represents a key historical and cultural destination in the Kingdom, and one of the most prominent projects of Vision 2030.

El Saif and CSCEC are currently implementing major infrastructure works of the project, including the construction of road tunnels. This also includes the largest single concrete pouring operation in the world with a volume of 6,100 cubic meters, as part of the structural foundation works included in the previous contract awarded in June 2021, with a value of SAR 6.65 billion ($1.8 billion).

Diriyah Co. will soon reveal more details about the assets being developed within the new mixed-use area in this project.

According to data available to Argaam, the Diriyah Gate Development Authority began in June 2020 implementing the first phase of the rehabilitation and development of Historic Diriyah at a value of SAR 75 billion. The master plan spans ​​seven square kilometers, and includes the establishment of a variety of tourist, entertainment and other destinations.