Diriyah Company has announced the launch of two high-profile multi-billion dollar educational and arts districts to be developed within the $63.2 billion Diriyah project, on the outskirts of the Saudi capital, Riyadh. The two new districts demonstrate the accelerating growth and development of Diriyah, The City of Earth, one of the world’s biggest and most unique urban development projects spanning an area of 14 square kilometers.
“Qurain Cultural District and Northern District are two of our most important and significant areas of the Diriyah masterplan and demonstrate the range and diversity of what our City of Earth has to offer. They will both become global centers of excellence, of knowledge, learning and creativity as Diriyah once more becomes a gathering place for the world,” stated Diriyah Company Group CEO Jerry Inzerillo.
The company made the announcement during the second edition of its annual international event ‘Bashayer – Delivering our Future’.
Qurain Cultural District
Diriyah Company has committed to establishing a vibrant global hub, the Qurain Cultural District, where culture meets modern urban living. The development of the Qurain Cultural District includes a SAR5.8 billion ($1.55 billion) contract awarded to a joint venture between Nesma & Partners Contracting Co. UJSC and MAN Enterprise Al-Saudia LLC.
The district will offer a diverse range of arts, retail, office, and residential spaces for people to live, work, shop local brands, and enjoy local dining experiences. The new district will also include assets in a diverse range of areas including a cinema, museums, and a number of academies including writing, traditional Najdi architecture and mud building, Arab music, culinary, performing arts and theatre.
Diriyah Company’s Qurain Cultural District will also have two world-class hotels and branded residences including the 195-room Ritz-Carlton Diriyah with 165 residences and the Address Diriyah, which will have 204 rooms and 60 serviced apartments.
Moreover, the district will feature 19 mixed-use buildings, including office, retail, and residences, 10 of which have various boutique office options, and a wide range of retail space and dining venues.
Northern District
Diriyah Company’s Northern District will make the town a global center of learning for scholars, students, and visionaries. It will include the King Salman Foundation, museums, a university, a library, and a vibrant public square. The new district will also host the recently announced Capella Diriyah, a 100-room luxury hotel that marks Capella Hotels and Resorts’ groundbreaking entry into the Middle East.
Construction on elements of the Northern District is already underway following the announcement of a SAR7.8 billion ($2 billion) joint venture contract with the China State Construction Engineering Cooperation Limited (CSCEC) and El Seif Engineering Contracting Co. Ltd.
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Bashayer event
The second edition of Bashayer is taking place in the first of Diriyah’s planned 40+ hotels – the 134-room Bab Samhan, a Luxury Collection Hotel. The new property seeks to reflect the 300-year-old Najdi architectural features and will begin welcoming guests at the end of this year.
The ‘Bashayer – Delivering our Future’ event saw participation from global investors, hospitality companies, construction firms, infrastructure experts, and representatives from the sports, arts, culture, tourism, and retail sectors. In addition to the new districts, the audience received an update on the rapid progress in construction and the status of key assets.
The Diriyah project is one of Saudi Arabia’s five giga-projects backed by the world’s fifth largest sovereign wealth fund, the Public Investment Fund. The project is building homes for 100,000 people, creating 178,000 jobs, and will host 50 million visits a year in the future and contribute $18.6 billion to Saudi Arabia’s GDP.
