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Diriyah Company has signed a SAR2.249 billion ($600 million) deal with Salini Saudi Arabia, a branch of the Webuild Group, for the development of Diriyah Square, a premier retail area central to the Diriyah masterplan.
As part of the broader “City of Earth” initiative, Diriyah Square is expected to host more than 400 retail, dining, and entertainment options in a pedestrian-centric environment that harmonizes contemporary elements with Najdi architectural styles. This initiative aims to transform the retail and lifestyle landscape in both Diriyah and the greater Riyadh region.
This contract represents Salini’s third significant project within the Diriyah Square development. The company is currently working on one of the largest underground parking facilities globally, featuring 10,500 spaces, along with integrated bus stations, drop-off zones for taxis and VIPs, and a four-lane underground roadway that connects the entire subterranean system. Salini is also approaching the completion of structural work for several key above-ground facilities, such as hotels, branded residences, offices, and the Grand Mosque.
In line with the new contract, Salini will build 73 structures totaling a constructed area of 365,340 square meters, which will include 400 shell-and-core retail units. The tasks outlined in this project encompass facades, finishes, and interior arrangements. Each building is designed to embody traditional Najdi architecture, creating an engaging pedestrian-oriented shopping atmosphere that honors 300 years of cultural history.
Related: Saudi Arabia’s Diriyah awards $2bn contract for mixed-use district
In a statement regarding this significant development, Jerry Inzerillo, CEO of Diriyah Company, remarked: “Diriyah Square stands out as one of our most exciting and prestigious areas. We are thrilled to partner with Salini, bringing their extensive global expertise to this project. This marks another critical step in our developmental journey and paves the way for Diriyah Square to welcome a diverse range of shoppers from our residential areas, nearby offices, and the millions of visitors that come each year.”
Pietro Salini, CEO of Webuild, stated: “We are honored to be part of such a strategically important project for Saudi Arabia. This initiative will enhance our presence in the Kingdom and positively influence the local community and surroundings. We are eager to advance this new phase of Diriyah Square, a key component of this iconic development. The Webuild Group has been active in Saudi Arabia since 1966, completing over 90 projects. We remain dedicated to aiding the Kingdom in executing some of the most intricate infrastructure projects worldwide, focusing on civil buildings, sustainable transportation, and desalination.”
Commercial Anchor
Diriyah Square is central to the larger SAR237 billion ($63.2 billion) Diriyah masterplan. It aims to connect international luxury brands with local artisans and offer a comprehensive mix of retail, cultural, and entertainment experiences. The square will host 400 of the 1,000 retail outlets planned within the 14-square-kilometer development.
With this latest agreement, Diriyah Company has awarded contracts exceeding SAR100 billion ($26 billion) since its establishment, including SAR20 billion ($5 billion) just in the first half of 2025.
Once fully realized, Diriyah is projected to contribute SAR70 billion ($18.6 billion) to Saudi Arabia’s GDP, generate around 180,000 jobs, and accommodate approximately 100,000 residents. The development will also feature cultural and entertainment landmarks such as the Royal Diriyah Opera House, the Diriyah Arena, museums, a university, the Royal Golf Club, and the Royal Equestrian & Polo Club.