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The district will also feature 19 mixed-use buildings, including office, retail, and residences
Diriyah Company unveiled details of two high profile developments – Qurain Cultural District and Northern District – to be developed within its US $63.2bn Diriyah project, on the outskirts of the capital, Riyadh.
Announcing this during the 2nd edition of its annual international event (‘Bashayer – Delivering our Future’), the developer explained how multi-billion dollar educational and arts districts demonstrate the accelerating growth and development of Diriyah, The City of Earth. This is one of the world’s biggest and most unique urban development projects, spanning an area of 14sqkm, the firm said.
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 was also updated on the rapid progress being made in construction and the current status of key assets.
Diriyah Company said it was committed to establishing a vibrant global hub, the Qurain Cultural District, where culture meets modern urban living, offering a diverse range of arts, retail, office, and residential spaces for people to live, work, shop for local brands, and enjoy a spectrum of local dining experiences.
The 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, that will feature 204-rooms and 60 serviced apartments.
The district will also 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. The development of the Qurain Cultural District includes a $1.55bn contract awarded to a joint venture between Nesma & Partners Contracting Company and MAN Enterprise Al Saudia.
The Northern District will make Diriyah a global centre of learning for scholars, students, and visionaries and it is set to 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.
Overall, the complete Diriyah project is one of Saudi Arabia’s five giga-projects, backed by the world’s 5th largest sovereign wealth fund, the Public Investment Fund, and is building homes for 100,000 people, creating 178,000 jobs, and contributing $18.6bn to Saudi Arabia’s GDP.
A short 15-minute drive from Riyadh’s city centre, this 14sqkm development holds historical significance as the actual birthplace of Saudi Arabia, dating back to 1727. Currently being developed by Diriyah Company, it is undergoing a transformation into an authentic Najdi-style mixed-use urban community. |
