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Diriyah Gate
Overview
Diriyah Gate project is expected to be an international tourist destination. The 7 km2 project is located on the north western edge of the Saudi capital of Riyadh, and comprises four squares, amphitheater for gathering and exploring, eight museums and an arts zone.
The project also includes 100 restaurants and an entertainment zone with a capacity of 15,000 seats. Diriyah Gate is home to 20 luxury hotel brands with a total capacity of 3,100 luxury rooms, in addition to Manarat Diriyah Convention and Exhibition Center and Al-Huwaidiyah Wedding Hall.
The project will be developed gradually. Phase I comprises 86 main assets.
Project Information
- construction
- Others
- In July 2017, Custodian of the Two Holy Mosques issued a royal decree to establish Diriyah Gate project.
- In Q4 2019, Custodian of the Two Holy Mosques laid the foundation stone of the project.
- The project will be financed by Diriyah Gate Development Authority, Saudi investors and foreign investors.
- Commercial operations is expected to start within five years. Works on the Museum of Modern Art is marked to start in Q1 2020.
- The company commenced working on the first phase of the SAR 75 billion project.
- In Q4 2020, the company signed a memorandum of understanding (MoU) with National Water Company (NWC), to supply 62,000 cubic meters per day of drinking and treated water.
- The company announced that the project works will be completed by end of this year or at the beginning of the coming year. The residential units will be opened by end of 2022, or at beginning of 2023.
- The company announced Diriyah Square project as the commercial heart of the Diriyah Gate project. The square hosts more than 450 luxury retail brands and 100 authentic local Saudi artisan markets. The project is scheduled to open in 2024.
- In Q1 2021, Diriyah Gate Development Authority (DGDA) announced the first 14 hotels. The hotels are Campbell Gray Hotels and Resort, Capella Hotels and Resorts, which comprises 100 residential units, first Fauchon Hotel in the Middle East, as well as Hilton hotels and resorts, Orient Express hotel, Raffles hotel, in addition to Park Hyatt hotel, The Ritz-Carlton hotel, Rosewood Hotels & Resorts, and The Luxury Collection, operated by Marriott International. Hotels will open gradually, while the first property to open will be The Luxury Collection, operated by Marriott International, slated to open in 2022 with a capacity of 141 rooms.
- In Q1 2022, Diriyah Gate Development Authority (DGDA) awarded Salini Saudi Arabia Co. Ltd. a contract for the construction of Diriyah Square’s car park on an area of 1 million square meters. The three-level underground car park will accommodate 10,500 vehicles.
- In Q1 2022, the company announced its plans to launch the Four Seasons Hotel Diriyah, which will comprise around 150 rooms and suites, in cooperation with Four Season Group.
- In Q1 2022, the company announced building an Armani Hotel in the city of Diriyah. The hotel will comprise 70 suites, two restaurants and a spa, with 18 stand-alone residential units having their own swimming pool. The new hotel will be managed by Emaar Hospitality Group.
- In Q4 2022, the company announced that it signed a contract worth SAR 373.94 million with Saudi Real Estate Infrastructure Co. (Binyah) for the construction works of the second phase of the project.
- On Feb. 13, 2023, the company announced that it signed a contract with Saudi Real Estate Infrastructure Co. (Binyah) for designing and construction of the Northern Cultural District (NCD) P3 car park project, at a total value of SAR 544.1 million. The project includes building a 2,000-car space parking facility over four basement levels, on a total land area of 100,000 square meters.
- In Feb. 2023, the company announced that the project started delivering returns.
Owners
Related Parties
Financing Sources
Project Developments
DGDA attracts $6B investment from private sector: CEOArgaam25/01/2024
DGDA sees opening of first hotel in 2024: CEOArgaam Special17/12/2023
DGDA to see opening of 1st hotel by year-end, eyes 27 mln visitors by 2030: CEOArgaam Special25/10/2023
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