In a landmark announcement that resonates with the very essence of luxury and cultural significance, Diriyah Company has unveiled a transformative partnership with Midad Development and Real Estate Investment Company. This strategic collaboration promises to bring forth the majestic Four Seasons Hotel and Private Residences Diriyah, echoing the spirit of sophistication that defines the heart of the Kingdom. Envisioned within the opulent masterplan of Diriyah, this luxurious enclave will encompass an impressive 159 refined guest rooms and private residences, artfully spread across a sprawling 235,938 square meters.
As the project unfolds, its staggering investment of $827 million (SR3.1 billion) will not only govern the elegant architecture and sumptuous interiors but also the land acquisition and construction processes, all meticulously crafted to resonate with the grand ambitions outlined for Diriyah.
Four Seasons Hotel and Private Residences Diriyah: A Jewel in Saudi Arabia’s Crown
Midad, a hallmark of luxury real estate development within Saudi Arabia, stands poised to deliver this flagship project, marking a significant milestone in its burgeoning portfolio of exquisite residential and hospitality offerings. This partnership serves as a beacon of progress, heralding the inception of nearly 40 luxurious hotels that will grace the breathtaking landscapes of Diriyah and its adjacent Wadi Safar project, a sprawling 62 square kilometer sanctuary of lifestyle and leisure.
With Wadi Safar envisioned as an exclusive enclave celebrating the delicate interplay of lifestyle, culture, and leisure, it promises to redefine opulence in the region.
“Saudi Arabia continues to set new benchmarks in destination development,” expressed Ahmed Al-Khateeb, Minister of Tourism and Secretary General of Diriyah Company. “At the forefront of this evolution, Diriyah embodies our commitment to augmenting the Kingdom’s alluring global tourism narrative, reinforcing our status as a premier destination for discerning travelers.”
Jerry Inzerillo, Group CEO of Diriyah Company, resonated with this ambition, stating, “The Four Seasons Hotel Diriyah will stand as one of our largest luxury hotels, and we take immense pride in announcing this joint venture with Midad, a leader in our nation’s real estate landscape.” He underscored the significance of this agreement, emphasizing the transformative journey that awaits and the enduring opportunities it heralds.
Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate, shared in the excitement, declaring, “This project epitomizes a pivotal moment for Midad, allowing us to introduce the Four Seasons experience to one of Saudi Arabia’s most culturally enriched heritage sites. We are invigorated by the prospect of delivering a development steeped in design excellence, exemplary service, and profound value while actively contributing to the Kingdom’s aspirations in tourism, culture, and economic growth.”
$63 Billion Transformation: The Masterplan of a New Era
This momentous announcement embodies the relentless progress of the $63.2 billion (SR236 billion) Diriyah project, which has already seen over $27 billion (SR101.25 billion) earmarked for construction contracts. It is projected that this vibrant destination will contribute a remarkable $18.6 billion (SR70 billion) to Saudi Arabia’s GDP, catalyze the creation of over 180,000 jobs, and accommodate nearly 100,000 residents, all while captivating up to 50 million visitors annually.
The visionary project promises to enrich the landscape with modern office spaces tailored for tens of thousands of professionals across diverse sectors such as technology, media, the arts, and education. Set against this backdrop, the destination will also flourish with museums, chic shopping districts, a prestigious university, an opera house, and a spectacular arena, alongside an array of culinary delights and an exquisite collection of nearly 40 world-class resorts and hotels.