Several Indian companies are considering investing in Diriyah, a large-scale project in Saudi Arabia valued at $63 billion. Diriyah, often called the “City of Earth,” is gaining interest from major groups such as the Tata group and the Oberoi Group, according to Diriyah CEO Jerry Inzerillo.
What is Diriyah?
Diriyah is a major development project located near Riyadh, the capital city of Saudi Arabia. This ambitious plan includes residential areas for 100,000 people, office spaces for another 100,000, and a wide variety of hospitality and retail options. More specifically, the project aims to feature over 40 luxury hotels, more than 1,000 shops, and over 150 restaurants and cafes.
The goal of Diriyah is to become a new center for culture and lifestyle in the region. Due to its scale and vision, Diriyah is attracting attention from investors around the world. You might also be interested in reading about other large-scale development projects in the Middle East.
The Vision Behind the Project
According to Jerry Inzerillo, Diriyah is not just a construction project; it represents a vision for the future. The interest from Indian investors highlights the global appeal of this project. With its mix of homes, businesses, and hospitality venues, Diriyah is designed to be a major attraction for both people who live there and tourists.
Economic Impact and Future Growth
The development of Diriyah is part of Saudi Arabia’s broader strategy to diversify its economy and encourage foreign investment. By developing new opportunities in tourism and real estate, projects like Diriyah are expected to be important for the country’s future growth. This project is also expected to create numerous jobs and boost the local economy, providing more opportunities for people in the region.