Diriyah plans to develop hotel project at over $1B

19/01/2026 ِArgaam
Jerry Inzerillo, CEO ofDiriyah Co.

Jerry Inzerillo, CEO of Diriyah Co.

Jerry Inzerillo, CEO of Diriyah Co., said the company intends to announce a major hotel project in partnership with an Italian developer in the coming weeks, with a value exceeding $1 billion (SAR 3.75 billion).
 

Speaking to Asharq, Inzerillo noted that work is progressing rapidly, with infrastructure readiness nearing 90%. He expects the projects to be completed before 2030, adding that the value of residential projects currently under development exceeds SAR 15 billion.
 

Regarding property sales in Diriyah, the CEO explained that between 90% and 99% of last year’s sales were made to Saudis, with some purchases recorded by Bahraini and Qatari buyers.
 

He expects foreign demand to increase in the future, driven by the presence of around 700 regional headquarters of global companies in the Kingdom, which will require housing for executives and expatriate staff.

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