Diriyah Company has signed a joint development agreement with Midad Development and Real Estate Investment Company Limited to develop the Four Seasons Hotel and Private Residences Diriyah.
The project comprises a 159-room Four Seasons Hotel Diriyah alongside Four Seasons Private Residences and will occupy a site spanning 235,938 square meters within Diriyah’s masterplan. The total value of the project is $827 million, which includes both land acquisition and construction costs.
“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,” said Ahmed Al Khateeb, minister of tourism for Saudi Arabia and secretary general of Diriyah Company.
This agreement represents the first major partnership between Diriyah Company and Midad. The project forms part of the broader hotel pipeline planned across Diriyah’s two main masterplans, which include the 14-square-kilometer Diriyah project and the adjacent 62-square-kilometer Wadi Safar project. Together, these masterplans account for nearly 40 planned luxury hotels within the destination.
Midad Development and Real Estate Investment Company is expanding its real estate portfolio through a pipeline of residential and hospitality projects within Saudi Arabia. The Diriyah project marks Midad’s involvement in a hospitality and residential development operating under the Four Seasons brand and located within a heritage-focused destination.
“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,” said Jerry Inzerillo, Group CEO Diriyah Company.
“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,” said Abdulelah bin Mohammed Al Aiban, president of Midad Real Estate.
