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Midad Real Estate Teams Up with Diriyah Company for USD 827 Million Luxury Development

Published: January 09, 2026 | Category: real estate news
Midad Real Estate Teams Up with Diriyah Company for USD 827 Million Luxury Development

Midad Real Estate has signed a strategic investment and development agreement with Diriyah Company to co-develop the Four Seasons Hotel and Private Residences Diriyah. This ambitious project is set on a 235,938-square-meter site in Diriyah, a historic and cultural landmark of the Kingdom of Saudi Arabia. The signing ceremony was attended by notable figures including His Excellency Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia, Jerry Inzerillo, Group CEO of Diriyah Company, and Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate, along with several executives.

The USD 827 million (SAR 3.1 billion) investment, covering both land and construction, highlights Midad’s expertise in luxury hospitality and residential development. This project is a testament to Midad’s commitment to Saudi Arabia’s Vision 2030, which aims to drive tourism, investment, job creation, and sustainable economic impact. Midad Real Estate will lead the development, featuring a 159-room luxury Four Seasons Hotel and private residences. The project will combine world-class service and design to set new standards for luxury hospitality in the Kingdom.

His Excellency Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia and Secretary General of Diriyah Company, emphasized the significance of this partnership. He stated, “Saudi Arabia continues to set new benchmarks in destination development, and Diriyah stands at the forefront of this evolution. Partnerships such as this enhance the Kingdom’s global tourism offering and reinforce our position as a leading destination.”

Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate, expressed his excitement about the project. He said, “This project represents a milestone for Midad, allowing us to bring the Four Seasons experience to one of Saudi Arabia’s most significant heritage destinations. We are excited to deliver a development that exemplifies design excellence, world-class service, and enduring value, while actively contributing to the Kingdom’s tourism, cultural, and economic ambitions.”

Jerry Inzerillo, Group CEO of Diriyah Company, added, “The Four Seasons Hotel Diriyah will be one of our largest luxury hotels and we are proud to announce this joint development agreement with Midad, one of the Kingdom’s leading real estate developers. This agreement reflects our ongoing commitment to enabling Saudi partners to participate in Diriyah’s transformational journey and underscores Midad’s confidence in the opportunities the project presents.”

The Four Seasons Hotel and Private Residences Diriyah is one of nearly 40 luxury hotels planned as part of Diriyah’s masterplans. This highly anticipated project reinforces Midad Real Estate’s expertise in high-end, transformative hospitality and residential developments, shaping the Kingdom’s luxury real estate landscape.

Diriyah, known as the City of Earth, is a historic and cultural landmark in Saudi Arabia. The city is a key component of the Kingdom’s Vision 2030, which aims to diversify the economy and reduce dependency on oil. The development of luxury hotels and residences in Diriyah is expected to attract a significant number of tourists and investors, contributing to the economic growth and cultural enrichment of the region.

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Frequently Asked Questions

1. What is the total investment for the Four Seasons Hotel and Private Residences Diriyah project?
The total investment for the Four Seasons Hotel and Private Residences Diriyah project is USD 827 million (SAR 3.1 billion), covering both land and construction.
2. Who are the key figures involved in the signing ceremony of the agreement?
The key figures involved in the signing ceremony include His Excellency Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia, Jerry Inzerillo, Group CEO of Diriyah Company, and Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate.
3. What is the significance of the Four Seasons Hotel and Private Residences Diriyah project for Saudi Arabia's Vision 2030?
The Four Seasons Hotel and Private Residences Diriyah project is significant for Vision 2030 as it aims to drive tourism, investment, job creation, and sustainable economic impact, aligning with the Kingdom's goals to diversify the economy and reduce dependency on oil.
4. How many luxury hotels are planned as part of Diriyah’s masterplans?
Nearly 40 luxury hotels are planned as part of Diriyah’s masterplans, with the Four Seasons Hotel and Private Residences Diriyah being one of the largest.
5. What is the expected impact of this project on the local economy and tourism in Diriyah?
The project is expected to significantly boost the local economy and tourism in Diriyah by attracting a large number of tourists and investors, creating jobs, and contributing to the cultural and economic development of the region.