PROJECTS: Saudi megaproject Diriyah Gate to award $4.3bln contracts in 2021

By: Sona Nambiar,  

Saudi mega heritage tourism project Diriyah Gate is set to award 16 billion Saudi riyals ($4.3 billion) worth of construction contracts in 2021, the CEO of Diriyah Gate Development Authority (DGDA), the project’s developer, said in an exclusive interview with Zawya.

Jerry Inzerillo said the DGDA plans to invest 155-billion riyal ($41 billion) across its developments, which also includes transforming the city of Ad-Diriyah, the birthplace and capital of the first Saudi state, into a significant educational, cultural, recreational, and hospitality hub. Diriyah was founded in the 15th century and declared the capital of the First Saudi State in 1744.

He said two new contracts, worth 3 billion riyals ($800 million), were awarded last week for Phase 1 infrastructure (roads, utilities, metro stations).

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