Diriyah to be a major tourist destination in northwest Riyadh: President Diriyah Company
Mohamed Saad, President of Diriyah Company, emphasized the
company's steady and advanced progress in executing its comprehensive plans to
establish Diriyah as a major tourist destination in northwest Riyadh, Saudi
Arabia.
The ambitious project aims to transform Diriyah into a
global hub, spanning 14 square kilometers, accommodating approximately 100,000
people by 2030. Saad elaborated on the company's blueprint to develop a vibrant
new city during an interview with Asharq Al-Awsat.
Comprehensive Development Model
Saad highlighted the adoption of a holistic development
model, ensuring robust infrastructure to support urban development. This
includes residential units, office spaces, new hotels, arts and cultural
centers, shopping areas, clubs, restaurants, and world-class cafes. These
initiatives align with Saudi Arabia’s Vision 2030, showcasing Diriyah
Development’s role in fostering a vibrant and diverse economy.
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Strategic Planning and Talent Attraction
Saad stressed the importance of a detailed strategy for the
success of large-scale projects like Diriyah. He noted that strategic planning
attracts top talent in architecture, construction, and global services,
especially those focusing on sustainable practices. Diriyah has partnered with
over 100 international firms, enhancing its global appeal.
Balancing Heritage and Modernity
Diriyah aims to balance its historical and cultural
significance with modern development. The project celebrates its rich Najdi
architectural heritage, with historical buildings dating back 300 years. Saad
emphasized the project's commitment to meticulous planning, combining elements
of the past, present, and future.
Investment Strategy and Key Developments
A comprehensive investment strategy is crucial for Diriyah's
success. Recent developments include the Diriyah Square shopping area and the
Royal Opera House. The upcoming Diriyah Arena, spanning 76,000 square meters
with 20,000 seats, is set to become one of the largest entertainment and
cultural venues in the Middle East.
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Expansion and Economic Impact
Diriyah’s expansion plans include hotels, residential units,
and a golf course. The project, supported by Saudi Arabia’s Public Investment
Fund (PIF), aims to create around 178,000 job opportunities for Saudi youth.
Saad announced further significant assets to be unveiled at the Diriyah Outlook
2024 event.
Vision 2030 Goals
Diriyah aims to attract 50 million annual visits, supporting
Vision 2030’s goal of tripling the GDP to 10% of Saudi Arabia's economy by
2030. Diriyah is expected to contribute over 70 billion riyals ($18.6 billion).
The project is designed to create a place for people to live, work, and enjoy
life, boosting prosperity and significantly impacting the economy.
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Balancing Returns with Development
Saad concluded by highlighting Diriyah's commercial goals
and global partnerships. As a major project owned by the PIF, Diriyah aims to
provide significant investment opportunities and generate revenues that
contribute to economic and social development.
Source: https://english.aawsat.com/
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