Diriyah project on schedule, within budget: CEO

Jerry Inzerillo, CEO of Diriyah Co.

Jerry Inzerillo, CEO of Diriyah Co., stated that despite the ongoing geopolitical developments, not a single day of work has been lost and that the Diriyah project is still on track and within budget.

Speaking to Al Ekhbariya in Paris on the sidelines of Crown Prince Mohammed bin Salman’s visit, Inzerillo said the project is expected to be substantially complete by 2030.

The golf course and new country club in Wadi Safar opened this year, while the company is preparing to open the Royal Equestrian and Polo Club, with the Faena, Oberoi, and Cheval hotels expected to open by the end of next year or Q1 2027, the new Aman hotel currently under construction, and residents set to begin moving into the Ritz-Carlton residential compounds within the next one to two months, he added.

Diriyah awarded contracts worth SAR 6 billion to 27 French companies, Inzerillo said, adding that it recently signed a new SAR 400 million agreement with Egis, one of France’s leading infrastructure companies.

According to data available with Argaam, the Diriyah Gate Development Authority (DGDA) launched the first phase of the SAR 75 billion rehabilitation and development of Historic Diriyah in June 2020.

The master plan covers 7 square kilometers and features a wide range of tourism, entertainment, and other destinations.

Diriyah is expected to contribute around SAR 70 billion to the Kingdom’s GDP, provide approximately 180,000 job opportunities, accommodate nearly 100,000 residents, and attract about 50 million visits annually.

Diriyah has so far awarded development contracts worth more than SAR 110 billion to local and international companies, out of the project’s total value of SAR 236 billion.