Italian firm wins contract to build 70 buildings and spaces in Saudi Arabia's Diriyah
Italian construction giant Webuild
has secured a $600 million contract for the Diriyah Square project, marking a
significant milestone in Saudi Arabia’s ambitious heritage-driven development
initiative. The contract, awarded to Webuild’s subsidiary Salini Saudi Arabia,
involves the construction of 70 buildings and public spaces within the
project’s mixed-use framework, which is a key element of the broader Diriyah
master plan.
With this new contract, Webuild’s
total involvement in Diriyah now amounts to approximately $2 billion, the
company confirmed in a recent statement.
Diriyah Square is central to Diriyah
Co.’s vision of transforming the historic Diriyah district into a thriving
commercial, residential, and cultural hub. The project forms part of Saudi
Arabia’s broader Vision 2030 plan, supported by the Public Investment Fund
(PIF), which seeks to reshape the Kingdom’s economy and tourism sector.
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The development is expected to
contribute around SR70 billion ($18.6 billion) to Saudi Arabia’s GDP, create nearly
180,000 jobs, and accommodate up to 100,000 residents.
Jerry Inzerillo, CEO of Diriyah Co.,
expressed enthusiasm about the partnership, stating: "Diriyah Square is
one of our most exciting and prestigious districts, and we are thrilled to have
signed with Salini to help bring it to life. Their global experience is
invaluable as we look to welcome visitors from nearby communities, surrounding
offices, and millions of tourists every year."
This latest contract includes the
completion of Package 3, which focuses on finishing work, along with
mechanical, electrical, and plumbing installations. Spanning 365,000 square
meters, the development will feature pedestrian-friendly spaces designed in traditional
Najdi style. Webuild is also overseeing the ongoing construction of a
10,500-space underground parking facility, which was awarded in 2022 and is
currently 55% complete, in addition to structural packages 3, 6, and 7.
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Webuild CEO Pietro Salini expressed
pride in the company's role in such a high-profile project, saying: “We are
honored to contribute to a project of such symbolic importance for Saudi
Arabia. Our continued presence in the Kingdom, which dates back to 1966,
strengthens our commitment to the region. We look forward to seeing the
positive impact our work will have on both the local community and the broader
area.”
The Diriyah Square project is set to
feature a dynamic retail district with 400 brands, spanning retail, leisure,
and dining options.
Source: Arab News
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