The CEO of the Diriyah Gate Development Authority (DGDA), Jerry Inzerillo, shared that the Future Investment Initiative (FII) forum in Saudi Arabia offered an excellent opportunity to engage with international investors and inspire their participation in significant projects scheduled for Diriyah, a UNESCO World Heritage site located in Riyadh.
The development project of Diriyah Gate costs $63.2 billion, making it one of the massive projects on the list of the Public Investment Fund (PIF). Moreover, this project is a key component of Saudi Arabia’s goals to become an attractive global tourist destination.
Speaking to Asharq Al-Awsat on the sidelines of the FII forum, Inzerillo emphasized that Diriyah is opening doors to investment opportunities for both foreign and domestic investors in various sectors, including hospitality, retail, and housing.
The projects encompass the construction of 42 hotels, 30,000 homes, 100 restaurants, and 500 retail stores to serve millions of tourists and thousands of permanent residents in the city.
Inzerillo also pointed out that the FII forum was a significant opportunity to meet investors from around the world and introduce them to the available opportunities in the city.
Many investors expressed their admiration for the diverse opportunities and promising projects the development of Diriyah holds.
Inzerillo also praised the support the project receives from both government and private entities in Saudi Arabia, including PIF and various ministries that have brought investors from all over the world to learn more about the project.
Most recently, a delegation consisting of 90 CEOs from financial companies in India, Hong Kong, and China visited the project.
Upon completion, the Diriyah project will encompass a range of cultural, entertainment, commercial, hotel, educational, institutional, and residential areas, including numerous hotels and a diverse array of museums and cultural institutions.
