Diriyah Company Signs SAR 2bn Financing Deal

Diriyah Company has signed a financing agreement worth SAR 2 billion (about USD 533 million) with Arab National Bank in August 2026 to support the development of hotel-branded and serviced residences in Diriyah and Wadi Safar near الرياض.

The facility is earmarked for luxury hotel-branded residences and serviced residential units operated by several global hotel brands. These will be developed across the 14 km² Diriyah masterplan and the larger 62 km² Wadi Safar masterplan west of the capital.

Diriyah aims to deliver around 18,000 residential units capable of housing about 100,000 residents, with hotel-branded homes positioned as a central pillar of the plan. The agreement marks the first partnership between Diriyah Company and Arab National Bank.

Why it matters

The deal adds to a series of major commitments made by Diriyah Company in 2026. These include a contract of roughly SAR 2.72–2.73 billion for the Waldorf Astoria Hotel, Residences and Mixed-Use Superblock, and a construction contract of about SAR 1.84–1.9 billion for the Saudi Arabia Museum of Contemporary Art. New contracts and investments signed in the first half of 2026 exceed SAR 4.9 billion.

Separately, the company had earlier secured a SAR 6 billion financing agreement from Banque Saudi Fransi for the Wadi Safar cultural and tourism destination. The broader development budget for the Diriyah giga-project is cited at around SAR 236 billion.

For residents and expats in الرياض, the expanding pipeline signals continued growth in premium housing, hospitality and cultural attractions on the western edge of the city over the coming years.

---

Stay updated with the latest news, events, sports updates, business insights, real estate and lifestyle stories on Saudi Living — the leading online platform for residents, expats, and visitors in Saudi Arabia.

Follow Saudi Living for daily updates:

• Instagram - @saudiliving
• X - @saudiliving
• Facebook - @saudiliving
• YouTube - @saudiliving