The Saudi Diriyah Development Company (DDC) has signed a 6 billion Saudi Riyal financing agreement with Banque Saudi Fransi (BSF) to develop the masterplan for Wadi Safar, one of the vital areas within the comprehensive urban development project in Diriyah.
This financing comes as part of the Kingdom of Saudi Arabia’s extensive efforts to transform Diriyah into one of the world’s leading cultural and tourist destinations by 2030, as the region prepares to receive more than 50 million visitors annually.
Wadi Safar: A Unique Residential and Entertainment Project
Wadi Safar is one of three major projects being developed by the DDC.
The project spans an area of 62 square kilometers and is a unique model for residential and entertainment development, featuring a range of luxury facilities in the hospitality, sports, entertainment, and retail sectors.
Work on the project began in July 2024, with the signing of an 8 billion riyal ($2.13 billion) construction contract to develop the Royal Equestrian and Polo Club, as well as four luxury international hotels: Aman, Six Senses, The Chedi, and Faena.
Wadi Safar also includes the famous 27-hole golf course, designed by international star Greg Norman, and the Royal Golf Club.
These facilities will make Wadi Safar a global destination for tourists and residents alike.
Diriyah: A Global Tourism and Cultural Destination
Diriyah recently witnessed the opening of Bab Samhan, the first hotel to open its doors to visitors from within and outside the Kingdom.
This opening follows the great success of the At-Turaif District and Al-Bujairi Lookout, which attracted 3 million visitors last year.
Located on the outskirts of Riyadh, Diriyah is one of five Saudi megaprojects supported by the Public Investment Fund.
Vision 2030: Transforming Diriyah into an Integrated Urban Center
The integrated urban project in Diriyah is designed to provide housing for more than 100,000 residents and office space for tens of thousands of professionals in the fields of technology, media, arts, and education.
The project is expected to create approximately 178,000 jobs and will see the construction of more than 40 world-class hotels, in addition to art galleries, museums, and commercial areas that will attract millions of visitors annually.
Upon completion, the project will contribute SAR 70 billion (equivalent to $18.6 billion) to the Kingdom’s GDP, strengthening Saudi Arabia’s position as one of the world’s leading tourism and economic destinations.
Conclusion
Thanks to these mega-projects, Diriyah is steadily moving toward achieving the goals of Vision 2030, which aims to diversify the Saudi economy and enhance its global standing.
Wadi Safar, with its luxurious facilities and advanced infrastructure, will be a key pillar in transforming Diriyah into a global attraction for tourism, culture, and investment.
Diriyah Company signed a SAR 6 billion financing agreement with Banque Saudi Fransi to develop Wadi Safar, a key urban development project in Diriyah. Spanning 62 km², the project includes luxury hospitality, entertainment, and sports facilities, aiming to attract over 50 million annual visits and support Saudi Arabia’s Vision 2030 to boost tourism and economic diversification.
