At the esteemed Private Investment Fund (PIF) Private Sector Forum, Diriyah Company made its second appearance, shedding light on the Diriyah project’s development strides and the lucrative investment openings available to the private sector. This significant event was hosted at the King Abdulaziz International Conference Center in Riyadh, drawing in a diverse crowd on February 6 and 7, including investors, suppliers, private companies, and government representatives. The forum’s primary aim was to strengthen the cooperation between PIF, its subsidiaries, and the private sector, thereby advancing Saudi Arabia’s economic growth in line with the ambitious Vision 2030 blueprint.
The gathering offered a prime platform for attendees to network, share insights, and explore collaborative ventures. As part of the PIF’s mega-project lineup, Diriyah Company put the spotlight on the potential for private-sector engagement, positioning itself as not merely a development undertaking but also as a destination with global cultural significance.
On the forum’s second day, Diriyah Company CEO Jerry Inzerillo engaged in a “fireside chat” centered on exploring partnership opportunities within Diriyah. He elaborated on the project’s recent achievements, including the launch of the UNESCO World Heritage Site At-Turaif and Bujairi Terrace, the region’s top gourmet precinct, at the close of 2022; the anticipated opening of Bab Samhan Hotel in 2024; and the initiation of seven additional hotels out of a planned 41+, along with the Royal Diriyah Golf Club, and the Royal Diriyah Equestrian and Polo Club.
Inzerillo announced the unveiling of the Royal Diriyah Opera House, marking a significant step forward for the project. He accentuated the vital influence of the private sector and the contributions of Diriyah’s partners in reaching these landmarks, underscoring the array of opportunities for vendors and suppliers to partake in the fruition of Diriyah as a hallmark Vision 2030 initiative.
Moreover, the forum was the stage for two pivotal agreements inked by Diriyah Development Company (DevCo). Saudi Constructioneers Ltd. (Saudico) secured the contract as the main contractor for The Ritz-Carlton Residences, the nation’s inaugural Ritz-Carlton residential project, while Al-Ayuni Company was appointed for a SAR 2 billion infrastructure project within Diriyah, marking one of the project’s most substantial contracts to date. The partnerships were formalized by Diriyah CEO Inzerillo, Saudico CEO Bashir Al Azem, and Al-Ayuni CEO Waleed Albathi.
The forum this year was distinguished by its interactive nature, with over 100 exhibitors, about 20 workshops, and eight panel discussions, attracting a substantial number of participants and presenting a myriad of opportunities for interaction and joint efforts. The event serves as a catalyst for enhancing the private sector’s role in the national economy and promoting localization initiatives, in alignment with Saudi Arabia’s strategic objectives.