Al-Diriyah Company signed a contract with Al-Saif Engineers and Contracting Company, in partnership with China General Architectural Engineering Corporation (CSCEC), to implement a major construction project in northern Diriyah.
Diriyah project
The project, the largest construction contract in Diriyah’s history valued at over 7.8 billion riyals ($2 billion). It includes building a multi-use area with advanced educational institutions, cultural sites, modern offices, and a luxury hotel. Additionally, it involves skilled developers from Saudi Arabia and globally, contributing to completing Diriyah’s development a key historical destination under Saudi Arabia’s Vision 2030.
Moreover, the agreement was signed by Jerry Inzerillo, CEO of Diriyah Group, Eng. Ahmed Al-Bassam, CEO of Al Saif Engineers Contracting Company (ESEC), and Quanhai Wei, CEO of CSCEC Saudi branch. Construction is scheduled to begin in Q3 2024.
Tourist, Cultural Destination
Inzerillo highlighted that this contract is a significant step in their commitment to transform Diriyah into a leading global tourist, cultural, and humanitarian destination. It is one of the largest and most important contracts in the development plan for the Diriyah project, showcasing its size, scope, and importance. He also noted its significance in strengthening economic relations and trade partnerships between Saudi Arabia and China.
This agreement signifies the Diriyah project’s local and global significance, its capacity to attract economic opportunities to the Kingdom. It also offers excellent investment prospects and a favorable business environment upheld by top-tier governance standards. Furthermore, it aims to establish Diriyah as a leading global destination for heritage and culture.
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