Diriyah Company Awards $2.13 Billion Contract For Luxury Hotels, Equestrian Club In Wadi Safar

Diriyah Company has awarded a $2.13 billion (SAR 8 billion) contract to build four luxury hotels and the Royal Diriyah Equestrian & Polo Club. The joint venture involves Urbacon Saudi Co. and Al Bawani Co. Ltd, marking a significant milestone in the Wadi Safar masterplan. Construction will commence soon.

The contract was signed at a ceremony in Diriyah by Urbacon Saudi Co. president Ramez Al Khayyat, Al Bawani Co. Ltd chief executive Fakher Al-Shawaf, and Diriyah Company group chief executive Jerry Inzerillo. This is the largest single contract awarded by Diriyah Company to date.

Inzerillo expressed pride in the project's momentum, highlighting the inclusion of four world-class hotels: Aman, Six Senses, The Chedi, and Faena. He also mentioned the prestigious Royal Diriyah Equestrian & Polo Club as part of the Wadi Safar masterplan.

"This contract marks another major step in accelerating our exciting development plans for the Wadi Safar masterplan," said Inzerillo. "We are delighted to have two of Saudi Arabia’s leading construction firms on board to deliver this major part of the Wadi Safar masterplan."

The hotels are among over 40 planned across Diriyah and Wadi Safar masterplans, aiming to offer world-class luxury experiences to visitors from around the globe. The Royal Diriyah Equestrian & Polo Club aims to become a regional center of excellence, celebrating Arabian horse heritage and Saudi equine traditions.

Wadi Safar is also home to an ongoing project for a Greg Norman-designed championship golf course and the Royal Diriyah Golf Club.

Collaborative Efforts

Urbacon's Al Khayyat expressed honor at being entrusted with this prestigious contract, emphasizing their eagerness to begin work on this globally impactful project in Wadi Safar.

"We are honored to have been entrusted with this prestigious contract," said Al Khayyat. "We are eager to begin our work on this project of global impact in the stunning Wadi Safar."

Focus on Quality and Heritage

AlBawani's AlShawaf shared his delight at being selected for this significant project, noting its focus on luxury, cultural heritage, modernity, and improving quality of life in Diriyah.

"We at AlBawani Holding are honored to be part of such an impactful endeavor in Wadi Safar," said Eng. Fakher.

New Delivery Partnership Strategy

This award marks the second major implementation of Diriyah Company’s new delivery partnership procurement strategy. This approach fosters collaboration among main contractors, SMEs, manufacturers, and suppliers for efficient project execution.

Further details about the hotels being developed in Wadi Safar will be announced by Diriyah Company in the coming months.

With inputs from SPA