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Diriyah Company has officially announced the launch of its Media and Innovation District at MIPIM in Cannes. This pioneering, future-focused hub will redefine the technology, media and communications industries by creating a dynamic new ecosystem within Diriyah, encouraging innovation and collaboration between local and global industry leaders. The district will serve as a new home for global media networks, creative agencies, and professionals seeking a collaborative ecosystem with state-of-the-art infrastructure, designed to promote sustainability and provide an exceptional quality of life. Spanning over 250,000 sq m of office GFA, the district will feature approximately 450 residential homes, and over 15,000 sq m for retail outlets, and a mix of dining options. It also includes the 325-room luxury 1 Hotel Diriyah, the first property from the global 1 Hotels brand marking its Middle East debut and designed using sustainable and local resources. Strategically located near the planned multi-purpose 20,000-seater Diriyah Arena, the Media and Innovation District is a pioneering development in the second phase of Diriyah’s urban masterplan. Designed to host tech giants and innovation hubs that will foster creativity, content creation, digital transformation, and technological advancement, the district has already attracted significant interest from investors and partners, including major international and regional broadcasting companies, as well as industry leaders. MIPIM 2025 also saw the announcement of another key milestone for Diriyah, the announcement of Armani Residences Diriyah, a 15 limited-edition residences that feature bespoke interiors individually curated by iconic Italian fashion designer Giorgio Armani. Diriyah Company also showcased key assets and highlighted commercial office leasing opportunities. Jerry Inzerillo, Diriyah Company Group CEO, said: “The Media and Innovation District will position Diriyah as a global hub for media production, technological innovation, and creative industries. By leveraging its rich heritage and forward-looking vision, we are cultivating a world-class ecosystem for the brightest minds in these fields.” “We anticipate a positive response from global industry leaders eager to benefit from the world-class high-tech facilities in an environment that will encourage groundbreaking ideas, technological breakthroughs and creative content.” The district’s office buildings are designed to achieve leading sustainability credentials at every stage, including planning, design, construction, and operation that will incorporate state-of-the-art technologies, and expansive, light-filled workspaces. At MIPIM, Diriyah Company also showcased extensive commercial office leasing opportunities, and investment opportunities within the $63.2 billion (236 billion SAR) mixed-use Diriyah masterplan. This includes 1.6 million square meters of office GFA, 566,000 square meters of retail GFA, over 40 hotels, 18,000-plus luxury residences featuring a contemporary interpretation of Najdi design, cultural, entertainment, healthcare, sports and other assets. Developed on the outskirts of Riyadh, Diriyah is one of Saudi Arabia’s five giga-projects, backed by the world’s 5th largest sovereign wealth fund, the Public Investment Fund. As part of this transformative urban development, Diriyah aims to provide homes for more than 100,000 residents, create an estimated 178,000 jobs, attract 50 million annual visits, and contribute a remarkable $18.6 billion directly to Saudi Arabia’s GDP once completed. |
