Crown Prince Mohammed bin Salman announced today the inclusion of the Diriyah project as the fifth major project owned by the Public Investment Fund (PIF).
Thus, the Diriyah project becomes one of the most unique projects of its kind in the world, with its rich cultural, heritage, and tourist attractions.
The announcement comes as an extension and confirmation of the efforts of the Crown Prince concerning all the main components of national identity and culture. This includes the Diriyah project.
The Diriyah project constitutes a historical, cultural, and political value in the 300-year history of the Saudi state.
The Diriyah project is a site on the World Heritage List
The Diriyah project is critical because it embraces many of the Kingdom’s cultural and heritage landmarks, such as the historic Turaif neighborhood. This is one of the sites listed on the UNESCO World Heritage List.
Major projects represent a fundamental pillar of the Public Investment Fund’s strategy, in terms of scope and ambition, with its potential to create novel infrastructure development systems.
The portfolio of major projects of the Public Investment Fund includes projects: NEOM, the Red Sea, Qiddiya, Roshan, and Diriyah.
The Diriyah project will contribute to empowering many strategic local sectors, in addition to creating opportunities for partnership with the private sector.
The project will help launch a group of new investment opportunities in the project through the various stages of development and implementation.
The Diriyah Gate Development Authority, which was established by royal order in 2017, will continue to carry out its regulatory and supervisory tasks within its geographical scope. This will preserve the heritage and history of Diriyah.
The Diriyah project is in line with the Public Investment Fund’s strategy to achieve the goals of the Kingdom’s Vision 2030 and diversify the local economy.