Diriyah inks SAR 2.7B contract for Waldorf Astoria Super Block project

Snapshot of the agreement signing

Diriyah Co. signed a contract worth SAR 2.72 billion with a consortium of Hassan Allam Construction Saudi Limited and UCC Saudi to develop the Waldorf Astoria Hotel, Residences, & Mixed-Use Super Block project in Diriyah.

The project represents a mixed-use development that features branded residences, commercial and office buildings, an integrated super basement, and a vibrant public realm, the company said on “X” platform.

Diriyah Gate Development Authority (DGDA) began Phase 1 of historical Diriyah's development in June 2020 with a SAR 75 billion budget. The Diriyah Gate master plan covers seven square kilometers near Riyadh, featuring a mix of tourist and entertainment attractions.

Diriyah is expected to contribute about SAR 70 billion to the Kingdom’s GDP, along with creating nearly 180,000 job opportunities and accommodating 100,000 residents and receiving approx. 50 million visitors annually.