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BINYAH & Diriyah Company Team Up For Groundbreaking Giga-Project | |
| Sumita Pawar |
The Northern Cultural District Car Park project has broken ground, marking a crucial step in the development of Diriyah, part of the $63.2 billion Diriyah giga-project masterplan, which promises to be a world-class destination in the Middle East.
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The 2,000-space car park will service assets such as King Salman University, the House of Al Saud Museum and King Salman Library, among others. BINYAH, the Saudi Arabian contractor, is 60% owned by the Saudi Real Estate Company, a company that is listed on the Saudi Stock Exchange that is owned by the Public Investment Fund of Saudi Arabia (PIF).
The Diriyah Masterplan
A fusion of 300 years of history, culture, and heritage, combined with the highest quality lifestyle, residential, and hospitality offerings in the region, this project is expected to bring in an estimated SAR 64 billion from global tourism.
Sustainability is essential across all aspects of Diriyah, with this project being key to furthering the reduction of vehicles throughout the development, encouraging greater pedestrian travel, and preserving the natural environment.
The projected population of the developed is estimated at over 100,000 but with more than 25 million each year. The project will feature international hotels, residences, 100+ restaurants, 5 iconic plazas and many other cultural attractions.
The inauguration of the Northern Cultural District Car Park is fundamental because it facilitates wider access, providing visitors with the opportunity to immerse themselves in everything the City of Earth has to offer. This core infrastructure component will develop Diriyah further, paving the way for a more sustainable, pedestrianised lifestyle that characterises the Diriyah lifestyle.
Sustainable Milestones
Diriyah's development company is committed to delivering on key milestones of Diriyah's masterplan, with the delivery of At-Turaif, a UNESCO World Heritage Site, and the Kingdom's premier dining offering, Bujairi Terrace, being just two recent achievements. Guy Perry, President of DevCo, commented on the launch, stating that facilitating seamless access to and travel around Diriyah is vital to their development planning since it facilitates the human-scale pedestrianised living that is central to the Diriyah lifestyle.
Meanwhile, Fahad Almesfir, CEO of BINYAH, expressed pride in being awarded the project, emphasizing that the construction of Diriyah's infrastructure was essential for delivering such a unique global destination. Collaborating closely to plan projects like these is vital to furthering Vision 2030 projects, allowing projects to be delivered on time and on budget, providing visitors with a top-notch experience.