Diriyah Company awards $600m Diriyah Square retail contract to Salini Saudi Arabia

Gulf Business

5 days ago

Image: Getty Images
Diriyah Company has awarded a SAR2.249bn ($600m) contract to Salini Saudi Arabia, a subsidiary of the Webuild Group, for the construction of Diriyah Square — a flagship retail district at the heart of the Diriyah masterplan.
Part of the wider 'City of Earth' vision, Diriyah Square will feature over 400 retail, dining, and leisure brands within a pedestrian-focused setting that blends modern experiences with Najdi-inspired architecture. The project aims to redefine the retail and lifestyle offering in Diriyah and, more broadly, in Riyadh.
The contract marks Salini's third major engagement on the Diriyah Square development. The company is currently advancing construction on one of the world's largest underground car parks, with 10,500 spaces, integrated bus stations, taxi and VIP drop-off zones, and a four-lane underground gyratory road that connects the entire subterranean network. Salini is also nearing completion of structural works for key above-ground assets including hotels, branded residences, offices, and the Grand Mosque.
Under the new contract, Salini will construct 73 buildings across a total built-up area of 365,340 square metres, including 400 shell-and-core retail units. The scope of work includes facades, finishes, and fit-outs. Each structure will reflect traditional Najdi design principles to create an immersive pedestrianised retail environment that celebrates 300 years of cultural heritage.
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Commenting on the latest milestone, Jerry Inzerillo, group CEO of Diriyah Company, said: 'Diriyah Square is one of our most exciting, anticipated, and prestigious districts, and we are extremely pleased to have signed with Salini to deliver it, bringing their immense global experience to the table. It is yet another significant milestone in our development journey and will help set the stage for Diriyah Square's retail spaces to welcome a diverse array of shoppers from our residential communities, surrounding office spaces, and the millions who visit us every year.'
Pietro Salini, CEO of Webuild, added: 'We are proud to contribute to a project of such symbolic and strategic importance to Saudi Arabia. This will further strengthen our presence in the Kingdom and positively impact both the area and the local community. We are excited about developing this new phase of Diriyah Square, an integral part of an iconic project. The Webuild Group has been present in Saudi Arabia since 1966, delivering more than 90 projects. We remain committed to supporting the Kingdom in developing some of the world's most complex infrastructure projects, particularly in areas such as civil buildings, sustainable mobility, and desalination.'
Commercial anchor
Diriyah Square serves as the commercial anchor of the larger SAR237bn ($63.2bn) Diriyah masterplan. It will connect international luxury brands with regional artisans and offer a mix of retail, cultural, and entertainment experiences. The square will house 400 of the 1,000 total retail outlets envisioned across the 14-square-kilometer development.
With this contract, Diriyah Company has now awarded contracts worth over SAR100bn ($26bn) since inception, including SAR20bn ($5bn) in the first half of 2025 alone.
When fully developed, Diriyah is expected to contribute SAR70bn ($18.6bn) to Saudi Arabia's GDP, generate close to 180,000 jobs, and become home to around 100,000 residents. It will also feature cultural and entertainment landmarks such as the Royal Diriyah Opera House, the Diriyah Arena, museums, a university, the Royal Golf Club, and the Royal Equestrian & Polo Club.