The Diriyah Company and leading Saudi Arabian contractor, Saudi Real Estate Infrastructure Company – BINYAH, celebrated the ground breaking of the Northern Cultural District Car Park project, a critical milestone in the development of this important district, as part of the USD 63.2 billion Diriyah giga-project masterplan.
The 2,000-space car park will service assets including King Salman University, the House of Al Saud Museum, and King Salman Library, among others.
BINYAH is a leading Saudi Arabian contractor and is 60% owned by the Saudi Real Estate Company, a company listed on the Saudi Stock Exchange that is owned by the Public Investment Fund of Saudi Arabia (PIF). Their scope for the project includes a Design and Build package encompassing; the car park structure, architectural finishes, MEP, plant and utility rooms/connections, all external works, and will be equipped with the most modern parking management and guidance systems. This project is a demonstration of two PIF-owned entities working to positively deliver on the goals of the Vision 2030 strategy.
The Diriyah masterplan is forging a world-leading destination that is unrivalled anywhere in the Middle East. As a gathering place for the world, Diriyah combines 300 years of history, culture, and heritage with what will be the highest quality lifestyle, residential and hospitality offerings in the region.
When completed, this core infrastructure component will facilitate wider access and broaden the opportunity for visitors to immerse themselves in all that is Diriyah. The City of Earth. has to offer. Sustainability is fundamental across all aspects of Diriyah, and this project is key in furthering the reduction of vehicles throughout the development, encouraging greater pedestrian travel, and preserving the natural environment.
Diriyah Company continues to develop the Diriyah masterplan at pace and is opening the most awe-inspiring destination to the world. Following the delivery of two major physical assets, the UNESCO World Heritage Site At-Turaif and the Kingdom’s premier dining offering Bujairi Terrace, this project launch marks yet another major milestone in the delivery of the Diriyah’s infrastructure.
Speaking at the project launch event, Guy Perry, President of DevCo, said: “This announcement is a further demonstration of the incredible progress being made at Diriyah. As we welcome the world to the cradle of Arabian civilisation, high-quality, well-planned, and efficient infrastructure is pivotal. Facilitating seamless access to and travel around Diriyah is fundamental to our development planning and facilitates the human-scale pedestrianized living, which is central to the Diriyah lifestyle. We continue to deliver on key milestones of the Diriyah masterplan and I am thrilled to be here today to mark this latest step forward.”
Fahad Almesfir, CEO BINYAH, commented: “We are proud to have been awarded this project to construct this essential part of Diriyah’s infrastructure. To deliver such an important and unique global destination requires meticulous planning and close collaboration. With today’s project launch, we look forward to enhancing the quality of the Diriyah experience for all and value the opportunity to further the development of this key Vision 2030 project.”