- The mastermind behind an ambitious endeavor to transform the historic town of Diriyah in Saudi Arabia into an expansive tourism destination is preparing to invest $10 billion into the project in the coming year. This $63 billion initiative situated at Diriyah, a UNESCO World Heritage site in the northwest of Riyadh, which also serves as the ancestral home of the ruling family, is slated to include numerous hotels and thousands of residential properties.
- The Diriyah Gate Development Authority, as per CEO Jerry Inzerillo, dedicated $7.5 billion to infrastructural development at the sprawling 14 square-kilometer project in the previous year. The project's scope encompasses up to 30,000 residences, 42 hotels, 9 museums, 100 dining establishments, and a golf course, all of which are of great significance to King Salman and Crown Prince Mohammed.
Why it matters
This initiative is just one of the numerous projects sponsored by the government in its bid to become a premier travel destination. With a goal to attract 70 million international tourists annually by 2030, the kingdom is allocating substantial investments toward new resorts and the establishment of a new airline.
