Saudi Arabia's $63 Billion Project ‘Diriyah’ Lures In Indian Investors Including Tata And Oberoi Groups
Saudi Arabia is building ‘Diriyah’, the City of Earth, on the outskirts of its capital city, Riyadh. Project CEO, Jerry Inzerillo, said that the $63 billion giga project has seen major interest from Indian investors, and big names such as the Tatas and Oberois have already become a part of the project. The new city will have homes for 100,000 people and provide office space for an additional 100,000. It will also include more than 40 luxury hotels, over 1,000 shops, and over 150 restaurants and cafe, reported PTI. Additionally, the project will have a university, arts and cultural assets, an opera house, a golf course, museums, an international equestrian and polo centre, and a multipurpose event arena with a capacity of 20,000, among other facilities. The project aims to restore the historic birthplace of the modern Saudi kingdom and the site includes the UNESCO World Heritage Site of At-Turaif. Speaking to the media agency, Inzerillo said, “At Diriyah we are keen to enhance the impact of India as one of Saudi Arabia's biggest trading partners, ranking among the top in bilateral trade, with a trade volume of approximately $52.8 billion in 2022-23.” The executive said that the Taj Hotel Group is set to open their 250th property in the city which will have 202 rooms. “An Oberoi Hotel is being developed close to our new equestrian and polo center and these two properties are among the more than 40 luxury hotels being built at Diriyah,” Inzerillo added. The executive was in Davos to attend the World Economic Forum Annual Meeting 2025. He informed that more than 3,000 Indian companies are already working in Saudi Arabia, working across sectors such as construction, energy, IT, and telecommunications. “Diriyah is very keen to work with firms here already and those based in India itself. This is a $63.2 billion project backed by the Public Investment Fund and it means the investment opportunities in Diriyah are countless and cover multiple asset classes. The scope for the Indian investment community and partners is enormous. Diriyah already has multiple partners on board from around the world, but there remains an amazing array of opportunities for Indian companies and organizations across the full spectrum of urban development to partner with Diriyah,” the CEO said. Notably, the recent data from the Saudi Ministry of Tourism revealed that 1.5 million Indian tourists visited the country last year. Also Read : 'Bengaluru Brainwave': Resident Finds Unique Solution To Beat Traffic And Reach Office, See What He Did
Saudi Arabia is building ‘Diriyah’, the City of Earth, on the outskirts of its capital city, Riyadh. Project CEO, Jerry Inzerillo, said that the $63 billion giga project has seen major interest from Indian investors, and big names such as the Tatas and Oberois have already become a part of the project.
The new city will have homes for 100,000 people and provide office space for an additional 100,000. It will also include more than 40 luxury hotels, over 1,000 shops, and over 150 restaurants and cafe, reported PTI.
Additionally, the project will have a university, arts and cultural assets, an opera house, a golf course, museums, an international equestrian and polo centre, and a multipurpose event arena with a capacity of 20,000, among other facilities. The project aims to restore the historic birthplace of the modern Saudi kingdom and the site includes the UNESCO World Heritage Site of At-Turaif.
Speaking to the media agency, Inzerillo said, “At Diriyah we are keen to enhance the impact of India as one of Saudi Arabia's biggest trading partners, ranking among the top in bilateral trade, with a trade volume of approximately $52.8 billion in 2022-23.”
The executive said that the Taj Hotel Group is set to open their 250th property in the city which will have 202 rooms. “An Oberoi Hotel is being developed close to our new equestrian and polo center and these two properties are among the more than 40 luxury hotels being built at Diriyah,” Inzerillo added.
The executive was in Davos to attend the World Economic Forum Annual Meeting 2025. He informed that more than 3,000 Indian companies are already working in Saudi Arabia, working across sectors such as construction, energy, IT, and telecommunications.
“Diriyah is very keen to work with firms here already and those based in India itself. This is a $63.2 billion project backed by the Public Investment Fund and it means the investment opportunities in Diriyah are countless and cover multiple asset classes. The scope for the Indian investment community and partners is enormous. Diriyah already has multiple partners on board from around the world, but there remains an amazing array of opportunities for Indian companies and organizations across the full spectrum of urban development to partner with Diriyah,” the CEO said.
Notably, the recent data from the Saudi Ministry of Tourism revealed that 1.5 million Indian tourists visited the country last year.
Also Read : 'Bengaluru Brainwave': Resident Finds Unique Solution To Beat Traffic And Reach Office, See What He Did
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