Saudi Arabia: Contract worth $2.13b awarded to develop Wadi Safar
Diriyah Company has awarded a $2.13 billion (SAR 8 billion) joint venture
construction contract to Urbacon Saudi Company and Al Bawani Company. This
contract will facilitate the construction of four luxury hotels and the Royal
Diriyah Equestrian & Polo Club as part of the Wadi Safar master plan.
Key Highlights of the Contract:
- Contractors: Urbacon Saudi Co. and Al Bawani
Co. Ltd.
- Scope: Construction of four luxury hotels and
the Royal Diriyah Equestrian & Polo Club.
- Significance: Largest single contract awarded
by Diriyah Company to date.
- Timeline: Construction work set to commence
shortly.
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Square to be the centre of attraction in Diriyah
Leadership Statements:
Jerry Inzerillo, Group CEO of Diriyah
Company: "This contract marks a major step in our Wadi
Safar master plan, including world-class hotels like Aman, Six Senses, The
Chedi, and Faena, as well as the prestigious Royal Diriyah Equestrian &
Polo Club. We are proud to have two of Saudi Arabia’s leading construction firms
on board to deliver this major part of the Wadi Safar master plan."
Ramez Al Khayyat, President of Urbacon
Saudi Co.: "We are honored to collaborate with Diriyah
Company on this global impact project, which includes luxury hotels and the
Royal Diriyah Equestrian & Polo Club."
Eng. Fakher AlShawaf, Group CEO of Al
Bawani Holding Company: "We are delighted to be selected
for this significant project, which focuses on luxury, cultural heritage, and
modernity, improving the quality of life in the historical and touristic
Diriyah region."
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to attract tourists all year round
Project Impact and Future Plans:
Wadi Safar is poised to be more than a luxury destination; it will house
diverse projects designed to enhance the region's appeal. In addition to the
luxury hotels, it will feature the Greg Norman-designed championship golf
course and Royal Diriyah Golf Club.
Diriyah Company continues to implement its new delivery partnership procurement strategy, fostering a collaborative environment among main contractors, SMEs, manufacturers, and suppliers for efficient project execution.
Source: https://www.cbnme.com/
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