DGDA attracts $6B investment from private sector: CEO

25/01/2024 Argaam

DGDA attracts $6B investment from private sector: CEO

Jerry Inzerillo, CEO of Diriyah Gate Development Authority (DGDA)

Total private sector investments in the Diriyah Gate project reached $6 billion, CNBC Arabia reported citing Diriyah Gate Development Authority (DGDA) CEO Jerry Inzerillo.

 

Private sector investment is mainly in hotel, restaurant, retail and residential sectors, he said, adding that this is in conjunction with the DGDA spending SAR 30 billion on infrastructure, roads, water and electricity.

 

In June 2020, the DGDA began implementing the first phase of the rehabilitation and development of historic Diriyah area at SAR 75 billion, Argaam earlier reported.

 

The Diriyah Gate masterplan spans an area of seven square kilometers that includes establishing a variety of tourist and entertainment destinations.

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