Saudi Arabia's Diriyah Company has awarded a SAR2.7 billion ($723.54 million) contract to build the Waldorf Astoria superblock, to a joint venture between Hassan Allam Construction Saudi Limited and Urbacon Saudi Company, a subsidiary of UCC Holding.
Diriyah Company Group CEO Jerry Inzerillo said: “The development of the Waldorf Astoria at Diriyah reflects the continued momentum of our development program and marks another significant milestone in delivering Diriyah’s vision. This project represents an important step in attracting world-renowned hospitality brands and creating a vibrant mixed-use destination, further reinforcing Diriyah’s position as one of the world’s leading destinations."
The contract is the latest milestone in expanding Diriyah's growing portfolio of world-class hotels and branded residences. It includes the development of Waldorf Astoria Diriyah, comprising 160 rooms, 39 suites, and one presidential suite, as well as a selection of restaurants and cafés, a grand ballroom, meeting rooms, a spa, and a fitness centre, with a total gross floor area of 22,715 sq m.
The development will also include 47 Waldorf Astoria Residences Diriyah with a total gross floor area of 10,090 sq m. The superblock will further comprise more than 45,000 sq m of mixed-use office space, 60,263 sq m of residential space, and 8,555 sq m of retail and food and beverage space.
In addition, the development will feature a central basement serving the office and residential components, with a total built-up area of 70,290 sq m, alongside associated retail units, external works, and the surrounding public realm, further strengthening Diriyah's hospitality and lifestyle offering while supporting the creation of a vibrant, walkable, world-class destination.
Upon completion, Diriyah is expected to contribute SAR70 billion to Saudi Arabia's GDP, create approximately 180,000 jobs, provide homes for around 100,000 residents, and attract 50 million visits annually.
The Diriyah giga-project will comprise museums, retail districts, a university, the Royal Diriyah Opera House, Diriyah Arena, 34 world-class hotels, a diverse range of restaurants, the Greg Norman-designed championship golf course at Wadi Safar, the Royal Golf Club, and the Royal Equestrian and Polo Club, alongside office space for tens of thousands of professionals across the technology, media, arts, and education sectors.
