Diriyah Company awards $202.2mn contract
The Diriyah Company is responsible for the Diriyah and the Wadi Safar masterplans, more than 40 hotels, arts districts, museums and sporting venues within the outskirts of Riyadh
Diriyah Company, the mixed-use developer behind the transformation of Diriyah, The City of Earth, has awarded a US $202.2mn contract to China Harbour Engineering Company to undertake bulk excavation works in Diriyah’s second phase. The Diriyah Company is responsible for the Diriyah and the Wadi Safar masterplans, more than 40 hotels, arts districts, museums and sporting venues within the outskirts of Riyadh.
The excavation works will cover most of the area of the second phase of the Diriyah project, which spans approximately 6.3sqkm, out of the total 14sqkm development area. The excavation works will see more than 600 heavy machines deployed on-site to carry out the work, shaping the site according to design specifications and providing a foundation for the development of planned world-class assets in Diriyah. These include the Royal Diriyah Opera House and the 20,000 seat Diriyah Arena.
Diriyah Company will embrace circular economy principles, as materials from the excavation site will be crushed and repurposed for uses such as road bases, landscaping, and backfill, according to international sustainability guidelines. By embedding international best practices, innovative technologies, and sustainability certification targets in all our projects, Diriyah Company aims to enhance environmental performance and sustainability credentials at the community and building levels.
Jerry Inzerillo, Group CEO of Diriyah Company said, “We are excited to begin bulk excavation works in the second phase of the Diriyah project, marking another key milestone in the development of The City of Earth. Progressing ahead of schedule, this excavation will enable smooth and efficient development of major cultural assets that will attract millions of visitors annually to Diriyah and inspire the world. As we move forward in creating a premier live-work-play destination, we encourage partners to join us on this journey”.
Yang Zhiyuan, CEO of China Harbour Engineering Company commented, “We are honored to collaborate with Diriyah Company on the execution of the Bulk Excavation Works project. We are confident in the success of this project, integrating the advantages of global resources, technical strength, equipment resources and an experienced management team. We will focus on environmental protection awareness and sustainable development concepts during implementation, ensuring the timely delivery of the project, contributing to the preservation of Diriyah’s heritage, cultural exchange and the development goals of Saudi Vision 2030.”
The contract is the latest awarded this year by Diriyah Company, following a $1.55bn joint venture for Qurain Cultural District, awarded last month in November; a $2.08bn contract for the Northern District, awarded in July; and another contract worth $2.13bn to build four luxury hotels and Royal Diriyah Equestrian & Polo Club in Wadi Safar, also in July.
