RIYADH: Diriyah Company has signed a $2 billion deal with Arbakan Saudi Company and Al-Bawani Group to develop the Wadi Safar project, including the Royal Diriyah Equestrian and Polo Club and several luxury hotels.
“Today is a very big day,” Jerry Inzerillo, CEO of Diriyah Group of Companies, told Arab News. “It is unusual for development companies around the world to sign a $2 billion deal, but this is a huge construction package for our Wadi Safar, which will be one of the most beautiful residential developments in the world,” he said.
The MoU was signed by Ingerillo, Arbakan Trading and Contracting Chairman Ramez Al-Khayat and Al-Bawani Group Chief Executive Officer Fakhr Al Shawaf on Wednesday at the DGDA headquarters in Riyadh.
“The valley will be home to the Safar Royal Diriyah Equestrian and Polo Club, a 27-hole golf course designed by Greg Norman, and 10 luxurious resorts,” Inzerillo said. “These four resorts are included in this package: Aman, which will be one of the most beautiful Amans in the world, Oberoi, a luxury hotel operator in India, Fena from Argentina and Miami and Chedi from the Far East. These four resorts are beautiful.
The CEO said Wadi Safar “will be one of the largest luxury residential high-end developments in the world, with a package worth $2 billion.”
Inzerillo said that last week they signed another $2 billion package for their multi-use northern district, which will include the King Salman Library, King Salman University, and Diriyah Square.
“And before December, we will issue more contracts with a large number near this,” he said.
“This indicates that Diriyah is moving full speed ahead to realize Vision 2030. Diriyah Expo 2030 will be completed in time for Riyadh, which will be the world's largest expo.”
Located west of Diriyah, Wadi Safar aims to become a residential cultural center offering world-class experiences in polo, luxury hotels and golf courses.
Mohammad Saad, chairman of Diriyah Co., highlighted the importance of the new partnership: “It is the flagship development of several properties in Wadi Safar, including the Royal Diriyah Equestrian and Polo Club, which will be the largest equestrian polo club in the region. It also includes Amala Resort, Six Senses and a range of Chedi hotels. will be included.
“Everything we do must go back to the roots and culture of Diriya. We are designing all our buildings and properties to present and celebrate the heritage, culture and heritage of Diriya,” he said.
Saad highlighted that assets will be gradually opened each year and by 2030, all assets in Darya will be operational.
“We have already provided a golf course in Wadi Safar and will soon invite people to play on it,” he said.
He said that in 2026, Wadi Safar hotels will start opening gradually.
