Latest news with #DiriyahSquare
Gulf Business
5 days ago
- Business
- Gulf Business
Diriyah Company awards $600m Diriyah Square retail contract to Salini Saudi Arabia
Image: Getty Images Diriyah Company has awarded a SAR2.249bn ($600m) contract to Salini Saudi Arabia, a subsidiary of the Webuild Group, for the construction of Diriyah Square — a flagship retail district at the heart of the Diriyah masterplan. Part of the wider 'City of Earth' vision, Diriyah Square will feature over 400 retail, dining, and leisure brands within a pedestrian-focused setting that blends modern experiences with Najdi-inspired architecture. The project aims to redefine the retail and lifestyle offering in Diriyah and, more broadly, in Riyadh. The contract marks Salini's third major engagement on the Diriyah Square development. The company is currently advancing construction on one of the world's largest underground car parks, with 10,500 spaces, integrated bus stations, taxi and VIP drop-off zones, and a four-lane underground gyratory road that connects the entire subterranean network. Salini is also nearing completion of structural works for key above-ground assets including hotels, branded residences, offices, and the Grand Mosque. Under the new contract, Salini will construct 73 buildings across a total built-up area of 365,340 square metres, including 400 shell-and-core retail units. The scope of work includes facades, finishes, and fit-outs. Each structure will reflect traditional Najdi design principles to create an immersive pedestrianised retail environment that celebrates 300 years of cultural heritage. Read: Commenting on the latest milestone, Jerry Inzerillo, group CEO of Diriyah Company, said: 'Diriyah Square is one of our most exciting, anticipated, and prestigious districts, and we are extremely pleased to have signed with Salini to deliver it, bringing their immense global experience to the table. It is yet another significant milestone in our development journey and will help set the stage for Diriyah Square's retail spaces to welcome a diverse array of shoppers from our residential communities, surrounding office spaces, and the millions who visit us every year.' Pietro Salini, CEO of Webuild, added: 'We are proud to contribute to a project of such symbolic and strategic importance to Saudi Arabia. This will further strengthen our presence in the Kingdom and positively impact both the area and the local community. We are excited about developing this new phase of Diriyah Square, an integral part of an iconic project. The Webuild Group has been present in Saudi Arabia since 1966, delivering more than 90 projects. We remain committed to supporting the Kingdom in developing some of the world's most complex infrastructure projects, particularly in areas such as civil buildings, sustainable mobility, and desalination.' Commercial anchor Diriyah Square serves as the commercial anchor of the larger SAR237bn ($63.2bn) Diriyah masterplan. It will connect international luxury brands with regional artisans and offer a mix of retail, cultural, and entertainment experiences. The square will house 400 of the 1,000 total retail outlets envisioned across the 14-square-kilometer development. With this contract, Diriyah Company has now awarded contracts worth over SAR100bn ($26bn) since inception, including SAR20bn ($5bn) in the first half of 2025 alone. When fully developed, Diriyah is expected to contribute SAR70bn ($18.6bn) to Saudi Arabia's GDP, generate close to 180,000 jobs, and become home to around 100,000 residents. It will also feature cultural and entertainment landmarks such as the Royal Diriyah Opera House, the Diriyah Arena, museums, a university, the Royal Golf Club, and the Royal Equestrian & Polo Club.
Arabian Business
5 days ago
- Automotive
- Arabian Business
Saudi real estate: Diriyah awards $600m contract for retail hub as project hits $26bn milestone
Diriyah Company has announced the award of a major new $600m (SR2.249bn) contract for construction work on the high-profile Diriyah Square retail precinct to Salini Saudi Arabia (a subsidiary of the Webuild Group). Diriyah Square is situated at the heart of Diriyah, the City of Earth, the unique Najdi-inspired architectural Diriyah Masterplan. It is designed to develop a vibrant retail district featuring a mix of 400 iconic retail, leisure and dining brands. Diriyah Square contract award in Saudi Arabia This district will emphasize exceptional customer experiences, focusing on pedestrians and offering unparalleled shopping, dining, and living opportunities. Diriyah Square aims to pioneer the future retail and leisure landscape of Diriyah, and more broadly, Riyadh. This marks the third major involvement of Webuild Group in helping to create the unique flagship retail environment in Diriyah. Salini is already well advanced in building a 10,500-space car park underneath Diriyah Square, which will be among the largest in the world. The car park will incorporate bus stations, dedicated taxi and VIP drop-off areas, and an underground four-lane gyratory connecting the subterranean Masterplan, providing best-in-class vehicle access and customer parking experiences across Diriyah Square. Salini is also in the process of completing the structural engineering for all the Diriyah Square assets above ground, including the Retail, Hotels, Branded Residences, Offices and Grand Mosque. The contract for the development of the retail district includes building 73 individual buildings and 400 shell and core retail units over a built-up area of 365,340sq m and includes the facades, finishes and fit-outs of the units. Every building will use traditional Najdi architectural design themes to create a unique pedestrianized retail environment in the heart of Diriyah reflecting 300-years of history and heritage. #DiriyahCompany has signed a $600 Million construction contract with Salini Saudi Arabia to deliver the landmark retail district in #DiriyahSquare, a project that brings an authentic Najdi-inspired urban vision to life. A milestone that strengthens the position of #TheCityOfEarth … — Diriyah Company l شركة الدرعية (@DiriyahCo) July 14, 2025 Diriyah Company Group CEO Jerry Inzerillo said: 'Diriyah Square is one of our most exciting, anticipated and prestigious districts, and we are extremely pleased to have signed with Salini to deliver it, bringing their immense global experience to the table. 'It is yet another significant milestone in our development journey and will help set the stage for Diriyah Square's retail spaces to welcome a diverse array of shoppers from our residential communities, surrounding office spaces and the millions who visit us every year.' Pietro Salini, CEO of Webuild, said: 'We are proud to contribute to a project of such symbolic and strategic importance to Saudi Arabia. This will further strengthen our presence in the Kingdom and positively impact both the area and the local community. 'We are excited about developing this new phase of Diriyah Square, an integral part of an iconic project. The Webuild Group has been present in Saudi Arabia since 1966, delivering more than 90 projects. 'We remain committed to supporting the Kingdom in developing some of the world's most complex infrastructure projects, particularly in areas such as civil buildings, sustainable mobility, and desalination.' Diriyah Square hosts 400 of the total estimated 1,000 outlets planned across the 14sq km development area of the SR237bn ($63.2bn) project. With this award, Diriyah Company has reached more than SR100bn ($26bn) in contract awards since inception with SR20bn ($5bn) in the first half of 2025. Diriyah, the City of Earth will contribute approximately $18.6bn (SR70bn) directly to the Kingdom's GDP, create nearly 180,000 jobs and will be home to an estimated 100,000 people. It will also include: Modern office space for tens of thousands of professionals in technology, media, the arts and education Museums A university The Royal Diriyah Opera House The Diriyah arena World-class hotels Restaurants The Royal Golf Club, Wadi Safar alongside the Greg Norman designed championship golf course Royal Equestrian and Polo Club, Wadi Safar
Zawya
5 days ago
- Automotive
- Zawya
Diriyah Company announces $600mln construction contract award to Salini Saudi Arabia, a subsidiary of the Webuild Group, for construction of 400 retail units in Diriyah Square
Construction Contract for flagship Diriyah Square retail district includes 73 individual buildings and 400 shell and core retail units over a built-up area of 365,340m2 Construction Contract awarded to Salini Saudi Arabia (a subsidiary of the Webuild Group). The announcement marks a significant milestone in creating Diriyah's premium lifestyle retail experience with 400 iconic retail brands and dining outlets. Diriyah: Diriyah Company has announced the award of a major new $600 million (SAR 2.249 billion) contract for construction work on the high-profile Diriyah Square retail precinct to Salini Saudi Arabia (a subsidiary of the Webuild Group). Diriyah Square is situated at the heart of Diriyah, the City of Earth, the unique Najdi-inspired architectural Diriyah Masterplan. It is designed to develop a vibrant retail district featuring a mix of 400 iconic retail, leisure and dining brands. This district will emphasize exceptional customer experiences, focusing on pedestrians and offering unparalleled shopping, dining, and living opportunities. Diriyah Square aims to pioneer the future retail and leisure landscape of Diriyah, and more broadly, Riyadh. This marks the third major involvement of Webuild Group in helping to create the unique flagship retail environment in Diriyah. Salini is already well advanced in building a 10,500-space car park underneath Diriyah Square, which will be among the largest in the world. The car park will incorporate bus stations, dedicated taxi and VIP drop-off areas, and an underground four-lane gyratory connecting the subterranean Masterplan, providing best-in-class vehicle access and customer parking experiences across Diriyah Square. Salini is also in the process of completing the structural engineering for all the Diriyah Square assets above ground, including the Retail, Hotels, Branded Residences, Offices and Grand Mosque. The contract for the development of the retail district includes building 73 individual buildings and 400 shell and core retail units over a built-up area of 365,340m2 and includes the facades, finishes and fit-outs of the units. Every building will use traditional Najdi architectural design themes to create a unique pedestrianized retail environment in the heart of Diriyah reflecting 300-years of history and heritage. Commenting on the latest contract award, Diriyah Company Group CEO Jerry Inzerillo said: 'Diriyah Square is one of our most exciting, anticipated and prestigious districts, and we are extremely pleased to have signed with Salini to deliver it, bringing their immense global experience to the table. It is yet another significant milestone in our development journey and will help set the stage for Diriyah Square's retail spaces to welcome a diverse array of shoppers from our residential communities, surrounding office spaces and the millions who visit us every year. ' Pietro Salini, CEO of Webuild, added: 'We are proud to contribute to a project of such symbolic and strategic importance to Saudi Arabia. This will further strengthen our presence in the Kingdom and positively impact both the area and the local community. We are excited about developing this new phase of Diriyah Square, an integral part of an iconic project. The Webuild Group has been present in Saudi Arabia since 1966, delivering more than 90 projects. We remain committed to supporting the Kingdom in developing some of the world's most complex infrastructure projects, particularly in areas such as civil buildings, sustainable mobility, and desalination.' Diriyah Square is the retail heart of Diriyah, the City of Earth, connecting the world's finest brands with local artisan goods, and culture with leisure and entertainment. It hosts 400 of the total estimated 1000 outlets planned across the 14 square kilometer development area of the SAR 237 billion ($63.2 billion) project. With this award, Diriyah Company has reached over SAR 100 billion ($ 26 billion) in contract awards since inception with SAR 20 billion ($ 5 billion) in the first half of 2025. Diriyah, the City of Earth will contribute approximately $18.6 billion (SAR 70 billion) directly to the Kingdom's GDP, create nearly 180,000 jobs and will be home to an estimated 100,000 people. It will also include modern office space for tens of thousands of professionals in technology, media, the arts and education, museums, a university, The Royal Diriyah Opera House, the Diriyah arena, world-class hotels, restaurants, the Royal Golf Club, Wadi Safar alongside the Greg Norman designed championship golf course and the Royal Equestrian & Polo Club, Wadi Safar. About Diriyah Diriyah, Saudi Arabia's premier historical, cultural, and lifestyle destination, is a key component of Saudi Arabia's 2030 Vision. A short 15-minute drive from Riyadh's city center, this 14-square-kilometer development holds historical significance as the birthplace of the Kingdom of Saudi Arabia, dating back to 1727. Currently being developed by Diriyah Company, Diriyah is undergoing a transformation into an authentic Najdi-style mixed-use urban community. Diriyah's centerpiece is At-Turaif, the UNESCO World Heritage Site inscribed in 2010, showcasing the ancient adobe capital city of the First Saudi State, dating back to 1766. Upon completion, Diriyah will host more than 100,000 residents, workers, students, and visitors, offering a diverse range of cultural, entertainment, retail, hospitality, educational, and residential spaces. The first of those spaces include Bujairi Terrace, Riyadh's new premium dining hub with over 20 global and local restaurants and cafes that enjoy uninterrupted views of At-Turaif. Bab Samhan, a Luxury Collection Hotel is the first hospitality offering in Diriyah, providing a tranquil experience with panoramic views of Wadi Hanifah. Diriyah's development provides a dynamic environment that celebrates Saudi Arabia's rich cultural history. About Diriyah Company Diriyah Company was launched in January 2023 and joined the Public Investment Fund's (PIF) portfolio of giga-projects. The Company is responsible for developing the Diriyah project, the birthplace of the Kingdom of Saudi Arabia and its foremost historical, cultural, and lifestyle destination. A dynamic mixed-use developer, Diriyah Company is redefining urban planning to develop Diriyah, 'The City of Earth', while adhering to the highest design, development, and preservation standards. The company ensures Diriyah's cultural landmarks are complemented by world-class retail offerings, fine-dining experiences, and leading hospitality brands. As a PIF company, Diriyah Company's mission focuses on opportunities in development, hospitality, investment, retail, and office leasing, along with strategic asset management, underscoring the commitment to ensuring successful business outcomes and sustainable growth under the strategic direction of Vision 2030. The Diriyah Company actively forges long-term partnerships to realize its vision of establishing Diriyah as one of the world's greatest gathering places. About Webuild Webuild is a global leader in the design and construction of large, complex infrastructure projects in sustainable mobility, hydropower, water treatment, and green buildings. A recognized leader in the water sector, it works in approximately 50 countries with over 92,000 people of 125 different nationalities. The Group boasts nearly 120 years of applied engineering on more than 3,700 completed projects, with a track record of 13,648 kilometres of railways, 891 kilometres of metro lines, 82,577 kilometres of roads and highways, 1,022 kilometres of bridges and viaducts, 3,462 kilometres of tunnels, and 318 dams and hydropower plants. Among its most famous projects: the expansion of the Panama Canal, the Long Beach International Gateway bridge in California, the Third Bosphorus Bridge in Turkey, the Sydney Metro Northwest skytrain viaduct and bridge, the Kingdom Centre skyscraper in Riyadh, Saudi Arabia, and numerous metro lines in Copenhagen, Paris, Rome, Milan, Naples, Doha, Thessaloniki, and Riyadh. Among the main ongoing projects, the following stand out: the New Genoa Breakwater, the Brenner Base Tunnel, the Pedemontana Lombarda Highway, Line C of Rome's metro network, the high-capacity railways between Genoa and Milan, the high-speed railway between Naples and Bari, the Palermo-Catania-Messina high-capacity railway, the Snowy 2.0 hydropower scheme in Australia, and the Trojena dam network in Saudi Arabia. As of December 31, 2024, the Webuild Group registered total revenues for €12 billion and a total backlog of €63 billion, with more than 90% of its construction backlog related to projects linked to the United Nations Sustainable Development Goals (SDGs). Webuild, subject to the direction and coordination of Salini Costruttori S.p.A., is headquartered in Italy, is listed on the Milan Stock Exchange, Borsa Italiana (WBD; WBD:IM), and since 2021, it is included in the MIB ESG index of the Italian blue-chip companies with the best ESG practices.
Arab News
6 days ago
- Business
- Arab News
Italian firm Webuild secures $600m contract as Diriyah project gains pace
JEDDAH: Saudi Arabia's Diriyah Square project has awarded a $600 million contract to Italian construction firm Webuild, marking a major step forward for the Kingdom's heritage-driven development. The contract, awarded to a subsidiary of the Italian group — Salini Saudi Arabia — covers the construction of 70 buildings and public spaces within the mixed-use development, which forms part of the broader Diriyah master plan. With this latest award, Webuild's total involvement in the sit, known as the City of Earth, now stands at roughly $2 billion, the company said in a statement. Diriyah Square is a central component of Diriyah Co.'s strategy to transform the historic district into a commercial, residential, and cultural hub. The project is one of five giga-projects backed by Saudi Arabia's Public Investment Fund, aimed at reshaping the Kingdom's economy and tourism offering under the Vision 2030 plan. Diriyah will contribute approximately SR70 billion ($18.6 billion) directly to the Kingdom's gross domestic product, create nearly 180,000 jobs and will be home to an estimated 100,000 people. Diriyah Co.'s group CEO Jerry Inzerillo said: 'Diriyah Square is one of our most exciting, anticipated and prestigious districts, and we are extremely pleased to have signed with Salini to deliver it, bringing their immense global experience to the table.' He added that this marks another important milestone in their development journey, paving the way for Diriyah Square's retail spaces to welcome a diverse range of visitors — from nearby residential communities and surrounding office hubs to the millions who visit each year. The contract covers Package 3 Finishing and mechanical, electrical, and plumbing, delivering a pedestrian-friendly environment in traditional Najdi style across 365,000 sq. meters. Webuild is also working on the 10,500-space underground parking facility, awarded in 2022 and currently 55 percent complete, alongside structural packages 3, 6, and 7. According to Diriyah Co., the project aims to create a retail district showcasing 400 brands across retail, leisure, and dining. In a statement released by Webuild, CEO Pietro Salini said: 'We are proud to be able to contribute to a project of such symbolic and strategic value for Saudi Arabia. Our presence in the Kingdom will be further strengthened by work that will have a positive impact on the area as well as the local community.' He added that the company has operated in Saudi Arabia since 1966 and has completed more than 90 projects. 'We continue to support the country to develop some of the most challenging infrastructure projects in the world, especially in sectors such as civil buildings, sustainable mobility, and desalination,' Salini said.
Zawya
6 days ago
- Business
- Zawya
Italy's Webuild wins $600mln new contract for Diriyah Square
Diriyah Company, backed by the Public Investment Fund (PIF), has awarded a contract to Italian contractor Webuild for Diriyah Square in Saudi Arabia. The contract is valued at $600 million, Webuild said in a statement. The new contract, known as package 3 finishing and MEP, involves the construction of more than 70 buildings and public spaces designed in line with traditional Nadji architecture principles within Diriyah Square. The total area covered under the contract is 365,000 square metres. Webuild is already involved in the mega project, building an underground multi-story car park with a capacity of 10,500 vehicles. The contract was awarded in 2022 and is 55 per cent completed. Related structural works are part of packages 3, 6 and 7. The combined value of the projects awarded to Webuild by Diriyah Company has reached nearly $2 billion. The Italian contractor is engaged in various strategic projects in the Kingdom, such as the high-speed line, a system of three dams and a freshwater lake for Trojena. It is working on the urbanisation plan in Riyadh. (Editing by Anoop Menon) (
