Diriyah awards SAR 7.8B contract to develop new area

Diriyah Co. signed today a contract worth more than SAR 7.8 billion (SAR 2 billion) with Al Saif Contracting Co., in partnership with China State Construction Engineering Corporation Ltd (CSCEC) to implement a large-scale building and construction project in the northern region of Diriyah.

 

The contract is the largest construction contract awarded in the history of Diriyah development so far, said the company, noting that construction work is scheduled to begin starting from Q3 2024.

 

 

The project will feature the construction of a multi-use area, which includes advanced educational institutions, cultural sites, modern offices, and a luxury hotel, in order to contribute to the completion of the Diriyah development project, which represents a key historical and cultural destination in the Kingdom, and one of the most prominent projects of Vision 2030.

 

Al Saif Co. and CSCEC are currently working on the implementation of major infrastructure works on the project, including the construction of road tunnels and the largest single concrete pouring operation in the world with a volume of 6,100 cubic meters, as part of the structural foundation work included in the previous contract awarded in March. June 2021, with a value of SAR 6.65 billion ($1.8 billion).

 

Diriyah Co. will soon reveal more details about the assets being developed within the new mixed-use area in this project, according to a statement.

 

According to data available to Argaam, the Diriyah Gate Development Authority began in June 2020 implementing the first phase of the rehabilitation and development of Historic Diriyah at a value of SAR 75 billion. The master plan is spanning over an area of 7 square kilometers, and includes the establishment of a variety of tourist, entertainment and other destinations.