The agreement covers the development of a 159-key Four Seasons Hotel and branded residences, one of nearly 40 hotels planned within the Diriyah masterplan
January 09, 2026 | Staff Reporter | KSA | Developers
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Diriyah Company has announced the signing of a joint development agreement with Midad Development and Real Estate Investment Company to deliver the Four Seasons Hotel and Private Residences Diriyah, a landmark luxury hospitality and residential development valued at $827 million (SAR 3.1 billion). The agreement formalises the partnership to develop a 159-key luxury hotel alongside branded private residences within Diriyah’s masterplan, spanning 235,938 square metres. The total project value includes both land acquisition and construction costs.
This marks the first major collaboration between Diriyah Company and Midad, reinforcing the delivery of one of nearly 40 luxury hotels planned across Diriyah’s two masterplans: the 14-square-kilometre Diriyah development and the neighbouring Wadi Safar, an exclusive lifestyle and leisure destination.
Commenting on the announcement, His Excellency Ahmed Al Khateeb, Minister of Tourism and Secretary General of Diriyah Company, said the partnership highlights Saudi Arabia’s ambition to set new global benchmarks in destination development and strengthen its international tourism offering.
Jerry Inzerillo, Group CEO of Diriyah Company, noted that the Four Seasons Hotel Diriyah will be among the destination’s largest luxury hotels, underscoring the company’s commitment to enabling Saudi developers to participate in Diriyah’s transformation.
Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate, said the project represents a milestone for the company, bringing the Four Seasons experience to one of the Kingdom’s most culturally significant heritage destinations.
The announcement reflects continued progress at Diriyah, the City of Earth, a $63.2 billion (SAR 236 billion) giga-project that has already awarded more than $27 billion (SAR 101.25 billion) in construction contracts. Once complete, Diriyah is expected to contribute SAR 70 billion to Saudi Arabia’s GDP, create over 180,000 jobs, and welcome up to 50 million visitors annually.
