Diriyah project attracting investments in diverse sectors
Private sector investments in Saudi Arabia's Diriyah project
have surged to SR22.50 billion ($6 billion), according to Jerry Inzerillo, CEO
of Diriyah Gate Development Authority.
The heritage site, located 15 minutes northwest of Riyadh,
is witnessing substantial investments in hotels, restaurants, retail, and
residential sectors. These developments align with the Kingdom's commitment to
becoming a global tourist hub under Vision 2030.
Diriyah:
Saudi Arabia's historic town transforms into a global cultural hub
Inzerillo highlighted the simultaneous spending of SR30
billion on infrastructure, new roads, water, and electricity, emphasizing the
importance of private sector involvement.
Diriyah is a key $62.2 billion development project, central
to Saudi Arabia's tourism aspirations, with ongoing initiatives transforming
the region. Recent achievements include the completion of the tunnel highway
for the Western Ring Road, enhancing accessibility to Diriyah and the wider
Riyadh area.
Diriyah
Company contemplates Tadawul IPO by early 2027, says CEO
Marriott International's groundbreaking ceremony for The
Ritz-Carlton, scheduled to open in 2026, further underscores the positive
trajectory of Diriyah's development.
Source: Arab News
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