Midad Real Estate and Diriyah Company to co-develop Four Seasons project in Diriyah
The $827mn investment and development agreement strengthens Midad’s expanding Four Seasons portfolio and luxury development pipeline
Midad Real Estate has signed a strategic investment and development agreement with Diriyah Company to co-develop the Four Seasons Hotel and Private Residences Diriyah on a 235,938sqm site in Diriyah.
The signing ceremony was attended by H.E. Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia, Jerry Inzerillo, Group CEO Diriyah Company, Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate, and a number of executives.
The $827mn investment, covering land and construction, emphasises Midad’s expertise in luxury hospitality and residential development and its commitment to Vision 2030, driving tourism, investment, job creation, and sustainable economic impact.
Midad Real Estate will lead the development, featuring a 159-room luxury Four Seasons Hotel and private residences, combining world class service and design to set new standards for luxury hospitality in the Kingdom.
His Excellency Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia and Secretary General of Diriyah Company said, “Saudi Arabia continues to set new benchmarks in destination development, and Diriyah stands at the forefront of this evolution. Partnerships such as this enhance the Kingdom’s global tourism offering and reinforce our position as a leading destination.”
“This project represents a milestone for Midad, allowing us to bring the Four Seasons experience to one of Saudi Arabia’s most significant heritage destinations. We are excited to deliver a development that exemplifies design excellence, world-class service, and enduring value, while actively contributing to the Kingdom’s tourism, cultural, and economic ambitions,” added Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate.
Jerry Inzerillo, Group CEO Diriyah Company commented, “The Four Seasons Hotel Diriyah will be one of our largest luxury hotels and we are proud to announce this joint development agreement with Midad, one of the Kingdom’s leading real estate developers. This agreement reflects our ongoing commitment to enabling Saudi partners to participate in Diriyah’s transformational journey and underscores Midad’s confidence in the opportunities the project presents.”
Part of nearly 40 luxury hotels across Diriyah’s masterplans, the highly anticipated project reinforces Midad Real Estate’s expertise in high-end, transformative hospitality and residential developments, shaping the Kingdom’s luxury real estate landscape, the firm said.
