Saudi Arabia’s developer Diriyah Company has announced a SAR8 billion ($2.13 billion) contract for the construction of four luxury hotels and the Royal Diriyah Equestrian & Polo Club as part of its Wadi Safar masterplan.
The contract has been awarded to a joint venture of two Saudi construction firms, Urbacon and Al Bawani. The four hotels included in the deal are Aman, Six Senses, The Chedi, and Faena.
The contracts were officially signed by Ramez Al Khayyat, president of Urbacon Saudi Company, Fakher Al Shawaf, CEO of Al Bawani Company, and Jerry Inzerillo, group CEO of Diriyah Company, at a ceremony in Diriyah.
Additionally, Diriyah Company stated that this is its biggest single contract to date, following the announcement of a $2.07 billion deal to build the Northern District earlier in July.
Inzerillo further highlighted that the contract marks a significant step in accelerating the development of the Wadi Safar masterplan, which includes the four world-class hotels and the prestigious Royal Diriyah Equestrian & Polo Club.
He also mentioned that the hotels are part of the company’s plan to deliver over 40 luxury experiences across its Diriyah and Wadi Safar masterplans, catering to visitors from the Kingdom, the region, and the world. The Royal Diriyah Equestrian & Polo Club is expected to become a center of regional excellence, building on the proud history and heritage of the Arabian horse and Saudi’s equine traditions.
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Delivering world-class luxury experiences
Moreover, Ramez Al Khayyat, president of Urbacon Saudi Company, expressed his company’s honor in being entrusted with this prestigious contract and their eagerness to collaborate with Diriyah Company in developing the luxury hotels and the exceptional Royal Diriyah Equestrian & Polo Club within the Wadi Safar masterplan, which is set to become a worldwide landmark destination.
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