Diriyah Company partners with Midad Development and Real Estate Investment Company on the Four Seasons Hotel and Private Residences Diriyah. This Diriyah Four Seasons JV funds land purchase and full construction at a cost of $827 million on 235,938 sq m in Riyadh’s City of Earth masterplan.
Project Details
Developers plan a 159-room luxury Four Seasons Hotel Diriyah plus branded private homes. Midad handles the work under this SAR 3.1 billion deal. Both sides confirm the project fits into larger tourism plans, but set no opening date yet.
Strategic Partnership
Diriyah Company teams up with Midad for the first time on a big scale. Midad grows its luxury projects in Saudi Arabia through such brand deals. The hotel joins nearly 40 others eyed for Diriyah’s 14 sq km site and the nearby 62 sq km Wadi Safar area, which mixes culture, leisure, and lifestyle.
Leadership Statements
Saudi Tourism Minister Ahmed Al Khateeb, who leads Diriyah Company as Secretary General, says such partnerships raise Saudi Arabia’s status as a top travel spot. Diriyah Group CEO Jerry Inzerillo notes the Four Seasons Hotel Diriyah ranks among their biggest luxury builds. He welcomes Midad as a strong local partner who trusts the vision.
Midad President Abdulelah bin Mohammed Al Aiban calls it a key step to add Four Seasons quality to a major heritage zone. The team aims for top design, service, and gains in tourism, culture, and economy.
City of Earth Overview
The $63.2 billion City of Earth project has handed out over $27 billion in build contracts already. It adds $18.6 billion to Saudi GDP, creates 180,000 jobs, houses 100,000 people, and draws 50 million visitors each year.
Planners add modern offices for tech, media, arts, and education workers. Visitors find museums, shops, a university, Diriyah Opera House, an arena, many food spots, and top resorts across the sites.
Economic Impact
This deal shows fast progress in Diriyah’s growth as a global draw. Local firms like Midad gain from big projects tied to Vision 2030 goals. The hotel-residences mix boosts stays and home sales in a heritage-linked spot.
Saudi leaders push tourism hard, with Diriyah as a key player. The site keeps its earth-toned look while adding sleek stays. Experts see it drawing rich travelers who mix history with comfort. Midad builds trust with premium work across the Kingdom. This JV opens doors for more joint efforts in hospitality and homes.
