RIYADH:聽海角直播鈥檚 sovereign wealth fund on Monday assumed control of the ambitious $50 billion development at Diriyah, the historic UNESCO World Heritage Site on the outskirts of Riyadh.
Diriyah becomes the Public Investment Fund鈥檚 fifth giga-project, alongside the futuristic NEOM city; the Red Sea Global tourism development on the west coast; Qiddiya, the entertainment and lifestyle destination 40km from the Saudi capital; and ROSHN, the Kingdom鈥檚 largest residential property developer.
Giga-projects are a key pillar of the Public Investment Fund鈥檚 strategy to diversify the Saudi economy by launching new sectors, promoting public-private partnerships, and boosting investment and employment opportunities.
The Diriyah development will feature luxury hotels and restaurants built in traditional Najdi architectural style, alongside conservation areas and cultural venues.
Diriyah鈥檚 mud-brick walls once housed a thriving desert city that was a powerhouse of culture and commerce.
Curved along the outskirts of Riyadh, and formed on an oasis that split from the banks of Wadi Hanifa, Diriyah鈥檚 mud-brick walls once housed a thriving desert city that was a powerhouse of culture and commerce.
At-Turaif district, with its famous citadel, was the original seat of power of the Kingdom鈥檚 Al-Saud family. In 1727, the city was named the country鈥檚 capital, laying the foundations for what would later become a unified 海角直播.
SPOTLIGHT
鈥淭hese cultural and historical aspects position Diriyah as an unrivaled destination of global significance where the authenticity of Saudi heritage can be celebrated, revealing the historic origins of modern 海角直播,鈥 a spokesman said.
鈥淭ourists will have the opportunity to explore and get to know 海角直播鈥檚 history and its culture at the city鈥檚 museums and purpose-built pavilions.鈥
The development of Diriyah was previously the responsibility of the Diriyah Gate Development Authority, which will continue in a supervisory and regulatory role role in maintaining the heritage and history of Diriyah.
