Ad Diriyah Gate Project: An Overview
Known as the ‘pearl of Saudi Arabia’, this exceptional $17 billion development project is defined by its committed preservation goals, unique cultural ties and lucrative investment opportunities. Designed to become one of the world’s great gathering places, Diriyah is just 20 minutes northwest of Riyadh’s city centre and is targeted to welcome over 27 million local and international visitors by 2030. By combining traditional Najdi architectural typology and new urbanism, Al Diriyah Gate will be infused with the spiritual values of Saudi Arabia and use its twin blend of culture and modernity to connect and engage with visitors and residents. The development will play host to the At-Turaif UNESCO World Heritage Site, an iconic mud-brick city and the home of the First House of the Al Saud family and capital of the First Saudi State, all preserved and restored for future generations.
Investment Opportunities
As one of Saudi Arabia’s major new tourist destinations only a short distance from the dynamic heart of Riyadh, Al Diriyah Gate is an awe-inspiring development project that will certainly appeal to luxury property investors with vision and ambition. In addition to the superb cultural attractions, the project will also play host to several luxury resorts with hundreds of hotel rooms, fine dining outlets, world-class retail venues, exciting entertainment attractions, five star hotels and international
branded residences. It will have five sub projects, each with their own distinctive styles and investment elements. The sub projects are King Salman Square, Wadi Hanifah, Bujairi District, At- Turaif District and the House of Al Saud Museum. Assessing the project by the numbers reveals a range of elements that further enhance its potential for investors, since Al Diriyah Gate will have:
- 5 asset classes of development: Heritage and Culture, Hospitality, Lifestyle and Retail, Education, Live and Work
- 19+ hotels and resorts
- 3000+ hotel rooms
- 5 museums
- 5 cultural academies
- 2.5km2 restored at Wadi Hanifah
- 55k job opportunities
- 27 million visitors by 2030
- 27 billion SAR contribution to the GDP
Goals to Admire
The Al Diriyah Gate project will also be defined by its lofty objectives that have been part of its ethos since its initial conception. Firstly, the destination aims to preserve and protect the historic UNESCO World Heritage Site of At-Turaif while celebrating Arab and national heritage. It will also commit to
serving the local community with a range of initiatives intended to incubate an eco-system of empowerment with employment opportunities and high quality living standards for residents. It will also focus on ensuring financial stability while positively contributing to the perception of the Kingdom as a tourist, cultural and leisure destination that can compete with the best on a world stage.
If you would like to find out more about Al Diriyah Gate and other real estate investment opportunities, get in touch with one of our consultants at Saudi Arabia Sotheby’s International Realty
