Foundation stone laid for Saudi Arabia's $17bn Diriyah Gate Project
Project to comprise Aman Resorts, five iconic squares, a 15,000-seat arena, a Formula-E racetrack, and create 55,000 jobs
Foundation stone has been laid for Saudi Arabia’s $17.1bn (SAR64bn) Diriyah Gate Project, which is being developed by the kingdom’s Diriyah Gate Development Authority, in the presence of the Custodian of Two Holy Mosques King Salman bin Abdulaziz Al Saud.
The project aims at restoring the 18th century city of Diriyah that was was established on the banks of Wadi Hanifa in 1446 AD and became the capital of the first Saudi state in 1744 AD.
According to the state-run Saudi Press Agency, Diriyah Gate Project, once restored will become a cultural and lifestyle destination project.
Upon completion, the 7km2 project will comprise 20 luxury hospital brands, including Aman Resorts, five iconic squares, a 15,000-seat arena, and a Formula-E racetrack.
Kuwait News Agency reported that the foundation stone was laid by the Custodian of the Two Holy Mosques.
Earlier this week, chief executive officer of Diriyah Gate Development Authority, Jerry Inzerillo told SPA that the project will create 55,000 jobs — 15% of which will covers employees from Diriyah.
Inzerillo also said that Phase 1 of the project will include 86 main sites, adding that the project would be linked to a number of museums.