Saudi Arabia’s Diriyah Company has announced the awarding of a $2.13bn joint venture (JV) contract for the construction of four luxury hotels and the Royal Diriyah Equestrian & Polo Club. 

The new developments are a significant part of the Wadi Safar master plan.  

Urbacon Saudi and Al Bawani, two construction companies in the region, have been selected as JV contractors for the construction work. 

The contract signing took place yesterday (24 July), with Urbacon Saudi president Ramez Al Khayyat, Al Bawani CEO Fakher Al-Shawaf, and Diriyah Company group CEO Jerry Inzerillo in attendance.  

This event signifies the commencement of a major construction phase for Diriyah Company, furthering its ambitious development goals of the Wadi Safar master plan.  

The contract is the largest single award by Diriyah Company to date and follows a previous $2.07bn contract for the Northern District announced earlier this month.  

The new developments include the construction of four hotels, including the Aman, Six Senses, The Chedi, and Faena hotels, alongside the Royal Diriyah Equestrian & Polo Club.

Wadi Safar is also set to feature a championship signature golf course designed by Greg Norman and the Royal Diriyah Golf Club, enhancing the area's luxury and recreational offerings.  

Inzerillo said: “The hotels are among the 40-plus across our two master plans, Diriyah and Wadi Safar as we gear up to deliver world-class luxury experiences to visitors from across the kingdom, the region and the world.  

“The Royal Diriyah Equestrian & Polo Club will create a true centre of regional excellence and build on the proud history and heritage of the Arabian horse and Saudi’s equine traditions.” 

The latest contract represents a key part of Diriyah Company's delivery partnership procurement strategy, which aims to create a cooperative environment among all stakeholders for efficient project delivery. 

Diriyah Company is expected to release further details about the luxury hotels in the Wadi Safar development in the upcoming months, as the project progresses towards completion.