Riyadh – Mubasher: Diriyah Company has created a new mixed-use district in the north of Diriyah, the joint venture (JV) Northern District Construction Contract that exceeds a value of $2 billion (SAR 7.80 billion).

The deal aims to build advanced educational institutions, cultural venues, modern offices, and a luxury hotel, according to a press release.

It is the largest single contract awarded by the Diriyah to date. Meanwhile, the construction work is set to commence in the third quarter (Q3) of 2024.

The JV contractors are El Seif Engineering Contracting Company Limited (ESEC) and China State Construction Engineering Corporation Limited (CSCEC).  

The Group CEO Diriyah, Jerry Inzerillo, said: “This represents a major step in our accelerating development strategy and commitment to making Diriyah a place for the world to be able to learn, absorb culture, and experience a vibrant and welcoming visitor destination.”

This JV includes building road tunnels and the world’s largest ever single concrete pour of 6,100 cubic metres as part of construction foundation work. This relates to an earlier $1.8 billion (SAR 6.65 billion) contract awarded in June 2021.