Diriyah Company lures Chinese firms to invest in Saudi Arabia

 

Diriyah Company lures Chinese firms to invest in Saudi Arabia

Jerry Inzerillo, Group CEO of Saudi Arabia’s Diriyah Company, expressed optimism about the increasing investment opportunities for Chinese businesses, emphasizing the unprecedented cooperation between Saudi Arabia and China. “There has never been a stronger partnership between our two nations,” Inzerillo remarked, highlighting the unique moment in their shared history.

During the 24th World Travel and Tourism Council (WTTC) Global Summit in Perth, Australia, Inzerillo underscored the significance of 2024 for Diriyah Company, which has entered numerous joint ventures with Chinese land operators, tour operators, and destination management firms. In addition, new air routes connecting Saudi Arabia and various Chinese cities have been announced, with a major focus on China for 2025.

Diriyah Company is at the forefront of transforming Diriyah into a premier global heritage and cultural destination as part of Saudi Arabia’s Vision 2030 initiative. This transformation centers on At-Turaif, a UNESCO World Heritage Site near Riyadh.

 

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Inzerillo shared that the outlook for Diriyah is promising, with expectations of surpassing 2 million visitors to At-Turaif by the end of the year. He noted a recent $2.1 billion contract awarded to a Saudi-Chinese joint venture to develop key assets in the area, including a hotel and educational facilities.

Inzerillo emphasized that now is an ideal time for investors interested in Riyadh’s rapid growth, as the city is expected to expand from 8 million to 15 million residents. Diriyah’s investment division is fully operational and eager to welcome partners aiming to contribute to the city’s development.

With a surge in Chinese travelers to Saudi Arabia, Inzerillo highlighted the flourishing relationship between the two countries, reflected in increased cross-border investments. To better serve Chinese visitors, Diriyah Company has begun training its staff in Mandarin and Cantonese.

 

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Concluding his remarks, Inzerillo noted that this is an exciting period for both investment and tourism, driven by the deepening ties between Saudi Arabia and China.

Source: https://ceoworld.biz/