Diriyah awards SAR2.7 billion contract for Waldorf Astoria complex
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RIYADH, July 30 (Saudi Arabia Breaking News) — Diriyah Company awarded a SAR2.7 billion contract for the construction of a Waldorf Astoria hotel and mixed-use complex to a Saudi joint venture.
Hassan Allam Construction Saudi Limited and Urbacon Saudi Company, a subsidiary of UCC Holding, will deliver the project.
The Waldorf Astoria Diriyah will include 160 rooms, 39 suites and a presidential suite across 22,715 square metres. Plans also include restaurants, event and meeting facilities, a spa and a fitness centre.
The development will contain 47 Waldorf Astoria-branded residences, more than 45,000 square metres of office space, 60,263 square metres of housing and 8,555 square metres dedicated to retail and dining.
A central basement serving the residential and office sections will cover 70,290 square metres. External works and surrounding public spaces are also included in the contract.
Diriyah Company expects the wider giga-project to contribute SAR70 billion to Saudi Arabia’s gross domestic product, support about 180,000 jobs and provide housing for approximately 100,000 residents. The development is projected to receive 50 million visits annually.
Source: SPA
