Diriyah, PIF’s fifth giga-project, will soon be located in Saudi Arabia and offer outstanding tourist, historical, and cultural landmarks. Crown Prince Mohammad bin Salman bin Abdulaziz of Saudi Arabia, who is also the country’s prime minister and head of the public investment fund (PIF), announced the project, which aims to support Saudi Arabia’s efforts to establish itself as a premier tourist and cultural destination both locally and internationally.
The Turaif District will be a part of Diriyah, which will highlight 300 years of the kingdom’s history. The new giga-project is aimed at creating partnerships with the local private sector, unlocking investment opportunities through “construction, operation, and management of hotels, retail, entertainment, and cultural facilities, creating thousands of new job opportunities, and providing a series of initiatives designed to contribute to enriching the quality of life for residents and visitors,” the statement said.
Aside from Diriyah, PIF also overlooks four other giga-projects NEOM, Red Sea, Qiddiya and Rosh according to Arabian Business. “Giga-projects form a key pillar of PIF’s overall strategy, as they are instrumental in creating new economic ecosystems and launching new sectors that drive economic growth and diversification in Saudi Arabia, as well as creating investment opportunities across multiple sectors,” the statement said.
The Diriyah Gate Development Authority (DGDA) of Saudi Arabia will keep an eye on things to ensure Diriyah’s history and legacy are properly preserved. “DGDA will also continue serving the Diriyah community, while providing full support to establish the Diriyah project as one of the world’s most prominent tourist destinations,” the statement added.
