Diriyah Company, Midad sign $827m Deal for Four Seasons Hotel & Residences

DIRIYAH, Saudi Arabia: Diriyah Company has announced a joint development agreement with Midad Development and Real Estate Investment Company to deliver the Four Seasons Hotel and Private Residences Diriyah, marking a significant addition to the Kingdom’s growing luxury hospitality and residential pipeline.

The agreement formalises collaboration between Diriyah Company and Midad to develop a 159-room luxury Four Seasons Hotel Diriyah alongside Four Seasons Private Residences, integrated within Diriyah’s masterplan. The project will span 235,938 square metres, with a total development value of $827 million (SAR 3.1 billion), covering both land acquisition and construction costs.

A strategic partnership within Diriyah’s masterplan

Midad continues to expand its footprint in the Kingdom’s luxury real estate sector, building a portfolio of high-end residential and hospitality projects through strategic brand partnerships. This agreement represents Midad’s first major collaboration with Diriyah Company, supporting the delivery of one of nearly 40 luxury hotels planned across Diriyah’s two masterplans: the 14-square-kilometre Diriyah project and the neighbouring 62-square-kilometre Wadi Safar development.

Wadi Safar is envisioned as an exclusive luxury destination adjacent to Diriyah, combining lifestyle, cultural and leisure offerings within a natural landscape setting, reinforcing Diriyah’s position as a global heritage-led destination.

Leadership perspectives

His Excellency Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia and Secretary General of Diriyah Company, said: “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.”

Jerry Inzerillo, Group CEO of Diriyah Company, commented: “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.”

From Midad’s perspective, Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate, 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.”

Progress of the City of Earth

The announcement highlights continued momentum across Diriyah’s wider development programme, part of the $63.2 billion (SAR 236 billion) City of Earth initiative. To date, more than $27 billion (SAR 101.25 billion) in construction contracts have already been awarded.

Upon completion, Diriyah is expected to contribute approximately $18.6 billion (SAR 70 billion) annually to Saudi Arabia’s GDP, generate more than 180,000 jobs, and accommodate an estimated population of 100,000 residents while welcoming up to 50 million visitors each year. The destination will include museums, cultural venues, retail districts, a university, the Diriyah Opera House, the Diriyah Arena, extensive food and beverage offerings, modern office space, and nearly 40 world-class resorts and hotels across its two masterplans.

Together, the Four Seasons Hotel and Private Residences Diriyah are set to play a defining role in shaping the luxury hospitality and residential offering within one of the Kingdom’s most ambitious and culturally significant developments.