Saudi Arabia’s ambitious Diriyah Project, valued at USD 64 billion, is rapidly progressing toward a 2027 opening, marking a Vision 2030 milestone.
Strategically located near Riyadh, Diriyah aims to transform a historic UNESCO World Heritage Site into a global destination for tourism and investment. As part of Vision 2030, the project blends Saudi heritage, modern hospitality and sustainable development to attract regional and international visitors. Significantly, the development includes more than 13 luxury and lifestyle hotels, with brands like Raffles, Ritz-Carlton and Six Senses confirmed. Moreover, it will feature 550 branded residences and mid-market apartments, catering to both affluent investors and Saudi Arabia’s expanding middle class. The plan also integrates cultural venues, museums, retail zones, co-working hubs, education institutions and healthcare facilities across the Diriyah landscape. As a result, Diriyah is positioned as one of the Kingdom’s key cultural, economic and real estate engines of the next decade. Construction is already underway, with core infrastructure and hospitality assets scheduled to launch between late 2026 and the end of 2027.
According to Diriyah Development Company president Mohamed Saad, investment opportunities range from thousands to over USD 20 billion in various asset classes. He further noted that hotel projects are delivering internal rates of return between 9 and 10 percent, depending on their classification. Equally important, Diriyah’s proximity to Riyadh positions it as a highly accessible gateway for business, leisure and cultural tourism growth. Consequently, the project is expected to attract 27 million visitors annually, creating over 55,000 jobs and boosting non-oil GDP significantly. Already, heritage and dining attractions like Bujairi Terrace and At-Turaif have opened, offering early glimpses of Diriyah’s long-term promise. With each phase, Diriyah reinforces Saudi Arabia’s commitment to building cities that honor history while delivering future-focused economic impact.
As Vision 2030 accelerates, Diriyah stands as a shining example of heritage-led development with global hospitality, cultural and investment appeal.
