{"id":88145,"date":"2024-07-25T00:00:00","date_gmt":"2024-07-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/25\/diriyah-awards-usd-2-1-bn-wadi-safar-contract\/"},"modified":"2024-07-25T00:00:00","modified_gmt":"2024-07-25T00:00:00","slug":"diriyah-awards-usd-2-1-bn-wadi-safar-contract","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/25\/diriyah-awards-usd-2-1-bn-wadi-safar-contract\/","title":{"rendered":"Diriyah awards USD 2.1 bn Wadi Safar contract"},"content":{"rendered":"

PIF-backed master developer Diriyah <\/strong>has awarded<\/strong> a SAR 8 bn (c. USD 2.1 bn) contract to <\/strong>a joint venture to develop projects in Wadi Safar<\/strong>, narrowly eclipsing its largest-ever single contract, which it awarded earlier this month<\/a>, it said in a statement<\/a>.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n

What we know: <\/strong>A joint venture comprising local contractor Al Bawani<\/a> and Urbacon Saudi will build four luxury hotels \u2014 Aman, Six Senses, The Chedi, and Faena \u2014 as well as the Royal Diriyah Equestrian and Polo Club at its Wadi Safar<\/a> masterplan. Urbacon Saudi is a local affiliate of Qatar\u2019s Urbacon Trading and Contracting Company<\/a>.<\/p>\n

What they said: <\/strong>\u201cThe hotels are among the 40 plus across our two masterplans, Diriyah and Wadi Safar as we gear up to deliver world-class luxury experiences to visitors from across the Kingdom, the region and the world. The Royal Diriyah Equestrian & Polo Club will create a true center of regional excellence and build on the proud history and heritage of the Arabian horse and Saudi\u2019s equine traditions,\u201d Diriyah Group CEO Jerry Inzerillo said.<\/p>\n

BACKGROUND:<\/strong> Diriyah awarded earlier this month a USD 2 bn project<\/a> to a joint venture between local contractor El Seif Engineering Contracting and Chinese state-owned construction company China State Construction Engineering Corp. The two will build a mixed-use district in the north of Diriyah.<\/p>\n

About Diriyah:<\/strong> Established in 2022, the Diriyah Company was tasked with developing Diriyah<\/a> \u2014 the ancestral home of the royal family \u2014 at a cost of USD 63 bn. The development, which spans 14 square kilometers<\/a>, is set to be home to 28 hotels, 18k residential units, 566k sqm in retail space in gross floor area and others.<\/p>\n","protected":false},"excerpt":{"rendered":"

Diriyah is developing the ancestral home of the royal family at a cost of USD 63 bn<\/p>\n","protected":false},"author":1,"featured_media":88146,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2574],"tags":[233,10,1151,106],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-diriyah","tag-enterpriseam-ksa","tag-public-investment-fund-pif","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"3947d29c-d880-40f5-b441-19f2a4363563","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/2019.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Diriyah awards USD 2.1 bn Wadi Safar contract","related_issue":[88138],"teaser":"Diriyah is developing the ancestral home of the royal family at a cost of USD 63 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.51217581-bd8e-4d82-94f5-3fe3db216fed.mp3"},"yoast_head":"\nDiriyah awards USD 2.1 bn Wadi Safar contract - 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