Diriyah Company has signed a SAR 2 billion ($533 million) financing agreement with Arab National Bank to support the development of a portfolio of branded hospitality residences in Diriyah and Wadi Safar, providing fresh funding for one of the Kingdom’s largest cultural and urban development projects.
Financing to Support Luxury Residential Development
The financing will support the development of luxury residential units associated with international hospitality brands across Diriyah and Wadi Safar.
The projects form part of Diriyah’s 14-square-kilometer masterplan and the 62-square-kilometer Wadi Safar development, which together encompass premium residential communities, cultural and educational assets, as well as sports, leisure and hospitality facilities.
The new financing is expected to support Diriyah Company’s continued expansion of residential and hospitality assets within an integrated urban ecosystem combining living, hospitality, culture and entertainment.
18,000 Residential Units Targeted for 100,000 Residents
Diriyah Company Group CEO Jerry Inzerillo said the agreement reflects the confidence of major financial institutions and investors in the project’s long-term vision and investment potential.
He said branded residential development is a core pillar of Diriyah Company’s strategy, which targets more than 18,000 luxury residential units designed to accommodate approximately 100,000 residents.
Official Diriyah Company and PIF information confirms the development’s target of more than 18,000 residential units and a population of around 100,000, alongside more than 40 luxury hotels and resorts.
A SAR 236 Billion Urban Development
Diriyah’s main masterplan covers 14 square kilometers and brings together heritage, culture, residential communities, hospitality, retail, dining, education and entertainment.
The development program is valued at approximately SAR 236 billion, while its planned components include international hotels and resorts, residential properties, restaurants, retail destinations and cultural and educational institutions.
Diriyah Company says the project is targeting more than 50 million annual visits by 2030 as it develops an integrated destination designed around the area’s Najdi heritage while providing places to live, work, learn and experience culture and entertainment.
Wadi Safar Expands the Development Footprint
Located approximately 15 minutes from central Riyadh and around 25 minutes from King Khalid International Airport, Wadi Safar represents a major component of the wider Diriyah development ecosystem.
The destination will feature a collection of luxury branded residences alongside hospitality, sporting, leisure and cultural assets, including facilities associated with golf, equestrian activities and polo.
Its development is part of a broader vision for a destination that combines luxury living, nature, sports and leisure while maintaining a strong connection to the area’s cultural identity.
Major Construction Contracts Already Underway
Development activity across Diriyah has accelerated through a series of major contracts awarded to local and international companies.
In November 2025, Diriyah Company announced SAR 5.7 billion ($1.5 billion) in new contracts covering residential, commercial and infrastructure developments, including offices within the Media and Innovation District, Manazel AlHadawi residential plots and major works on King Khalid Road.
According to the company’s latest published figures, Diriyah had awarded more than $27 billion in construction contracts by November 2025 as part of an integrated urban development program valued at approximately $63.2 billion.
The wider development also includes museums, shopping districts, a university, the Royal Diriyah Opera House, Diriyah Arena, dining and entertainment destinations, as well as a major portfolio of international hotels and resorts.
New Financing Supports Diriyah’s Global Ambitions
The SAR 2 billion financing provides further momentum for development across Diriyah as the project moves from planning and construction toward the delivery of an integrated portfolio of residential, hospitality, commercial and cultural assets.
The development forms part of Diriyah Company’s ambition to establish the historic area, which traces its heritage back around 300 years, as a global destination combining cultural preservation with contemporary living and international hospitality experiences.
