Image: Getty Images
Diriyah Company has recently signed a SAR2.249 billion ($600 million) contract with Salini Saudi Arabia, a subsidiary of the Webuild Group, for the development of Diriyah Square, a prominent retail area within the larger Diriyah masterplan.
This project is part of the broader “City of Earth” initiative and will feature more than 400 retail, dining, and entertainment options in a pedestrian-friendly environment that incorporates modern styles with Najdi architectural elements. The goal is to transform the retail and lifestyle landscape in Diriyah and throughout Riyadh.
This agreement represents Salini’s third significant role in the Diriyah Square project. The company is currently working on constructing one of the largest underground parking structures globally, which will have 10,500 spaces, as well as integrated bus stations, taxi and VIP drop-off areas, and a four-lane underground roundabout to connect all subterranean facilities. Salini is also close to finalizing structural work on essential above-ground buildings, including hotels, branded residences, offices, and the Grand Mosque.
Under the terms of this new contract, Salini will be responsible for building 73 structures, covering a built-up area of 365,340 square meters, which includes 400 retail spaces. The tasks will encompass the design of facades, interior finishes, and overall fit-outs. Each building will embody traditional Najdi design elements, fostering a retail atmosphere that celebrates 300 years of cultural history.
Related News: Saudi Arabia’s Diriyah secures $2 billion contract for mixed-use complex
Commenting on this achievement, Jerry Inzerillo, the group CEO of Diriyah Company, remarked: “Diriyah Square stands as one of our most ambitious and awaited projects, and we are delighted to partner with Salini for its realization, leveraging their extensive global expertise. This milestone is crucial to our developmental progress and will facilitate a diverse range of shoppers from nearby communities, office areas, and the millions of visitors we attract each year.”
Pietro Salini, CEO of Webuild, expressed pride in participating in a project of such significant importance to Saudi Arabia. He noted, “This initiative will enhance our presence in the Kingdom and bring positive impacts to the region and the local populace. We are enthusiastic about advancing this phase of Diriyah Square, a key segment of a landmark project. The Webuild Group has been active in Saudi Arabia since 1966, completing over 90 projects, and we remain committed to assisting the Kingdom in tackling some of the most challenging infrastructure endeavors, especially in areas like civil structures, sustainable transport, and desalination.”
Commercial Anchor
Diriyah Square acts as the commercial centerpiece of the larger SAR237 billion ($63.2 billion) Diriyah masterplan. It aims to merge international luxury brands with local artisans, providing a blend of retail, cultural, and entertainment experiences. Within this ambit, the square will host 400 out of the 1,000 retail outlets planned for the 14-square-kilometer development.
With the recent contract signing, Diriyah Company has awarded projects exceeding SAR100 billion ($26 billion) since its establishment, which includes SAR20 billion ($5 billion) just in the first half of 2025.
Upon completion, Diriyah is anticipated to contribute SAR70 billion ($18.6 billion) to Saudi Arabia’s GDP, create nearly 180,000 jobs, and house around 100,000 residents. The area will also feature various cultural and entertainment attractions such as the Royal Diriyah Opera House, the Diriyah Arena, museums, an educational institution, the Royal Golf Club, and the Royal Equestrian & Polo Club.