King Saud University, through its investment arm Riyadh Valley Company, has signed a long-term lease agreement with Diriyah Company, in the presence of the Minister of Education and Chairman of the University’s Board, Yousef Al-Benyan. The agreement supports long-term development and strategic investment partnerships.
The agreement was signed on behalf of the university by Acting President of King Saud University and Chairman of Riyadh Valley Company, Dr. Ali Masmali. Under the agreement, Diriyah Company will lease 552,000 square meters of university-owned land for a period of 70 years to develop the site as part of Phase Two of the Diriyah Project (D2), in accordance with the project’s approved master plan.
Diriyah Project
The partnership aims to develop the leased area in line with the Diriyah Project master plan, enhance the value of the university’s assets through a sustainable investment model, support the knowledge economy by linking a national development entity with a university investment arm, and strengthen integration between the academic sector and major development initiatives. Moreover, these efforts contribute directly to achieving Saudi Vision 2030 objectives in urban and economic development.
Al-Benyan noted that the agreement reflects the university’s strategic vision to maximize the impact of its assets, establish long-term, high-quality partnerships with major national projects, enhance financial sustainability, and reinforce its role as a key contributor to national development, in line with its aspirations for global excellence.
Dr. Masmali added that the agreement marks a significant advancement in the university’s investment strategy, ensuring long-term financial sustainability, optimizing asset utilization, and delivering ambitious development outcomes for both parties.
Finally, Diriyah Company Group Chief Executive Officer Jerry Inzerillo stated that the agreement represents an important strategic milestone in the development of Diriyah, highlighting the integration of efforts between development entities and academic institutions to support sustainable urban projects with lasting economic and knowledge value.
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