Diriyah Company announces $2bn construction contract

The project, valued at more than SR7.8bn ($2bn), is the largest construction contract awarded in the history of Diriyah Company. Diriyah construction project It involves the construction of advanced educational institutions, cultural venues, modern offices, and a luxury hotel. The project will be executed by some of the most prominent real-estate developers from Saudi Arabia and around the world, contributing to the realisation of the Company, which represents one of the most important historical and cultural destinations in the Kingdom and a key project of Saudi Vision 2030. The agreement was signed by Diriyah Company Group chief executive Jerry Inzerillo, ESEC chief executive Eng. Ahmed Al Bassam, and CSCEC’s KSA Branch chief executive Chuanhai Wei. Construction work is set to commence in the third quarter of this year. Inzerillo said: “This represents a major step in our accelerating development strategy and commitment to making Diriyah one of the most important and prominent tourist, humanitarian, and cultural destinations in the world. “This contract is one of the largest in terms of size, scope, and significance within the development plan for the Diriyah project. “This agreement also represents another example of the close economic relations and strong commercial partnerships being established between Saudi Arabia and China”. The agreement is a testament to the local and global stature of the project and its ability to attract more economic opportunities to the Kingdom.

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