Diriyah Continues Shaping the Future with the Launch of the "Grand Avenue" and the Signing of Contracts Worth SAR 4.9 Billion

The first half of 2026 marked a pivotal milestone in Diriyah’s transformation, with development accelerating across construction, investment, culture, and global engagement. As construction advanced throughout the development, new contracts and investments exceeding SAR 4.9 billion ($1.3 billion) were signed. A defining highlight came in April when Diriyah Company unveiled the "Grand Avenue" project during its participation in MIPIM 2026 in Cannes, France, presenting it as one of the flagship landmarks of its development master plan.

This milestone coincided with Diriyah's participation in leading global economic and cultural platforms, the hosting of prominent international figures, and the receipt of prestigious awards and certifications that further strengthened its position as one of the world's premier destinations, bringing together culture, tourism, hospitality, and luxury living. These achievements move Diriyah closer to its goal of welcoming 50 million visits annually by 2030.

 Quality Investments

As construction progresses across the Diriyah project, a series of strategic investments has further advanced Diriyah's vision of becoming a fully integrated global destination. Diriyah Company signed a joint development agreement with Midad Real Estate Investment and Development Company to develop the Four Seasons Hotel Diriyah and Four Seasons Private Residences, representing an investment of SAR 3.1 billion ($826.6 million). The project will cover approximately 235,000 square meters within the Diriyah masterplan and will include a 159-room hotel alongside private residences.

Reinforcing its cultural ambitions, Diriyah continued to strengthen its role as a hub for creativity and the arts by signing the construction contract for Saudi Arabia Museum of Contemporary Art (SAMoCA), with an investment of SAR 1.84 billion ($490.6 million). Designed by Godwin Austen Johnson to Gold-level sustainability standards, the museum will provide a platform for Saudi artists while enriching the Kingdom's cultural landscape locally and internationally.

Internationally, Diriyah Company announced one of the defining landmarks of its future urban landscape during MIPIM 2026 in Cannes by unveiling the Grand Avenue project, which will encompass the Grand Mosque and Diriyah Arena. During the same exhibition, the company also showcased the Diriyah Opera House as another iconic landmark within the development.

In the retail sector, Diriyah Square continued its expansion with the addition of several new brands, joining more than 400 retail stores and restaurants already located within the district. According to Diriyah Group CEO Jerry Inzerillo, these additions further reinforce the Square's role as a vibrant destination that balances Diriyah's historic character with the contemporary lifestyle needs of residents and visitors.

Global Presence

Alongside tangible progress on the ground, Diriyah maintained a strong presence at major international forums through a series of engagements showcasing the story of a global destination that brings together historical heritage, sustainability, and long-term investment.

At the World Economic Forum in Davos 2026, Group CEO Jerry Inzerillo discussed Diriyah's role in highlighting authentic Saudi hospitality traditions. He later participated in the fourth FII PRIORITY Summit in Miami, where he explored the economic opportunities generated by developing green cities. In Rome, he joined the "Financing the Future of Global Tourism Infrastructure" session during the Future Investment Initiative, emphasizing the importance of long-term investment in sustainable tourism destinations and their readiness to support growth while delivering lasting economic impact.

Diriyah also participated in the Future Minerals Forum, presenting its experience in combining heritage, sustainability, and long-term investment. It took part in the Public Investment Fund and Private Sector Forum in Riyadh and returned to MIPIM in Cannes for its third consecutive year, where the Grand Avenue project was officially announced.

The company also strengthened its presence across specialized sectors by serving as the official sponsor of the World Retail Congress in Berlin from April 27 to 29, 2026, becoming the principal sponsor of the Saudi-British Joint Business Council in London, and hosting CoreNet Global Middle East as its first Platinum Sponsor in Saudi Arabia. Diriyah continued this international engagement by participating in the World Travel & Tourism Council event in Egypt and the Vogue Business Global Summit, where it showcased Diriyah Square as a luxury lifestyle destination inspired by Saudi heritage.

Its activities extended beyond international participation. Domestically, the company partnered with the Fashion Commission to organize a retail sector gathering attended by more than 120 industry leaders. It also participated in the Future Careers and Entrepreneurship Exhibition 2026 at Al Yamamah University and conducted 200 mock interviews to prepare young talent.

International Recognition

The Diriyah project received significant international recognition during the first half of the year. TIME magazine included Bab Samhan Hotel in its list of the World's Greatest Places 2026, reflecting Diriyah's growing prominence among leading global destinations.

Diriyah Company was also the first developer in the region to receive the British Safety Council's Sword of Honour and Five-Star Rating. Meanwhile, the Central Services Center in Wadi Safar became the first project of its kind in Riyadh to receive the Diamond Mostadam Certification. The Zallal project earned LEED Gold Certification, while Diriyah achieved the highest global ranking at the Leading Maturity Level under the Performance Management Assessment Framework Version 3.0, presented by the GPA Unit.

In the fields of risk management and quality, the company obtained ISO 22361:2022 certification for crisis management, complementing its ISO 22301:2019 certification for business continuity. Its Procurement Division also received ISO 9001 and ISO 44001 certifications, becoming one of the first major projects in Saudi Arabia to achieve the latter.

High-Level Visits

During the first half of the year, Diriyah welcomed several distinguished visitors who toured the project and reviewed its latest developments.

Among the most notable visits was that of His Royal Highness Prince William, Prince of Wales and heir apparent to the British throne, who was received by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Board of Diriyah Company. During Prince William's first official visit to Saudi Arabia, the Crown Prince personally guided him on a private tour of Diriyah, the birthplace of the Saudi state and its first capital.

Former U.S. Secretary of State Hillary Clinton also visited Diriyah to experience Saudi Arabia's unique culture and heritage. Her visit included Diriyah Company's headquarters and the UNESCO World Heritage-listed At-Turaif Historic District.

Sustainable Community Impact

The impact of the Diriyah project extends beyond development and investment to encompass community engagement, culture, and sports. Diriyah Company hosted the headquarters of the Jood Housing campaign, "Generosity is from us and within us." It also organized the fifth edition of Diriyah Suhoor, which brought together communications and media leaders in Wadi Safar. Moreover, the company designed the studio for the Ramadan television program Al Liwan in the traditional Najdi architectural style.

The company also supplied the King Salman Humanitarian Aid and Relief Centre (KSrelief) with 122 tons of dates, bringing its total contribution to 357 tons. It concluded the Diriyah Olympics 2026 by honoring the winners, organized an orientation session for new employees and their families, and hosted a visit by the Business Administration Club, reinforcing its commitment to building an engaged community around the project.

On the sporting front, His Highness Prince Khalid bin Mohammed bin Saud, Chairman of Diriyah Sports Club Company, and Jerry Inzerillo, GCEO of Diriyah Company, met with Diriyah Club players following the unveiling of the club's Foundation Jersey in support of local sporting talent. The company also celebrated Diriyah Club's historic promotion to the Saudi Pro League (Roshn Saudi League) for the first time.

Looking Ahead

The achievements of the first half of 2026 can be viewed as part of a single overarching trajectory: reinforcing Diriyah's position as a global destination for the future. From new investments exceeding SAR 4.9 billion ($1.3 billion) and the launch of the Grand Avenue to international participation, global awards, accelerating construction progress, and expanding community impact, Diriyah Company continues to build a development model that integrates heritage, sustainability, and long-term investment.

As development projects advance on the ground and strategic partnerships expand worldwide, Diriyah is steadily progressing toward achieving its Vision 2030 objectives, drawing on its rich historical legacy and a forward-looking vision that confidently embraces the future.