Diriyah contracts worth $730 million will support new luxury hotels and branded residences in Saudi Arabia. Diriyah Company awarded two major construction deals for its expanding development. The combined value reaches SAR2.7 billion, or about $728 million. The latest awards also strengthen construction activity across Diriyah Square.
Diriyah Company awarded one contract worth SAR1.3 billion to a joint venture. Al Majal Al Arabi Group and MAN Enterprise form the joint venture. The team will develop three hotels and two residential properties. The companies will also handle several major construction packages.
Meanwhile, Urbacon Saudi Company secured the second contract worth SAR1.4 billion. The company will develop three hotels and one residential property. Urbacon Saudi operates under Qatar-based UCC Holding. The latest award adds further construction activity to the Diriyah project.
Together, the projects will add six luxury hotels and several branded residences. The developments form part of Diriyah Company’s wider hospitality strategy. The company continues to expand its accommodation and residential offerings. Therefore, the awards represent another major step for Diriyah Square.
The construction packages cover several important parts of each property. They include facades, blockwork, interior fit-out and external works. The contracts also cover mechanical, electrical and plumbing systems. As a result, the agreements span much of the construction process.
Urbacon Saudi already has several projects within the wider Diriyah development. The company is building four hotels in Wadi Safar. It also works on the Royal Diriyah Equestrian and Polo Club. These projects further expand its role across the destination.
The Al Majal Al Arabi Group and MAN Enterprise joint venture also secured another major project. The companies won work on the Grand Mosque during Diriyah’s second phase. Consequently, the joint venture has several important roles within the development. Its involvement covers both hospitality and major infrastructure.
Diriyah and Wadi Safar form major parts of Saudi Arabia’s tourism strategy. Their masterplans include 34 luxury hotels across the destinations. The developments also target 50 million visits each year after completion. This goal highlights the project’s expected importance to tourism.
The wider Diriyah development carries an estimated value of SAR237 billion. Developers continue to expand hospitality, residential and cultural offerings. In addition, the project aims to create a major international destination. The latest contracts support that broader development strategy.
Diriyah Company also continues expanding its branded residential portfolio. The developer secured financing for more than 300 branded residences in August. Those homes form part of the company’s broader development plans. They will add premium residential options across the destination.
The company also targets a major milestone ahead of World Expo 2030. Plans call for 6,500 hotel rooms to become available by that period. This target would help support expected visitor demand during the event. It also creates an important deadline for ongoing construction.
Moreover, the latest Diriyah contracts could help maintain construction momentum. Hotel development remains central to the project’s long-term plans. Branded residences also provide another important part of future growth. Together, they strengthen the destination’s hospitality and residential offering.
The latest awards show continued progress across several parts of the masterplan. They also highlight the scale of construction activity underway. More properties should advance as contractors continue their work. Therefore, Diriyah remains one of Saudi Arabia’s major development projects.
Diriyah’s development remains closely linked to Saudi Arabia’s tourism ambitions. The project combines hospitality, residential communities and cultural attractions. It also seeks to attract visitors from Saudi Arabia and international markets. These goals support the destination’s long-term economic importance.
For now, the new Diriyah contracts provide fresh momentum for the next construction stage. The six hotels will expand the destination’s future accommodation capacity. Meanwhile, branded residences will broaden its premium residential offering. Together, these projects strengthen Diriyah’s position as a major Saudi destination.
