Hassan Allam-UCC JV Wins $719 Million Waldorf Astoria Contract in Diriyah

RIYADH, SAUDI ARABIA – Hassan Allam Holding has announced that a joint venture between Hassan Allam Construction and UCC Saudi has been awarded a $719 million (SAR2.7 billion) contract by Diriyah Company to deliver the Waldorf Astoria Hotel, Residences & Mixed Use Super Block in Diriyah.

The project forms part of the wider Diriyah giga-development, one of Saudi Arabia's flagship Vision 2030 initiatives, which is being developed by Diriyah Company, a subsidiary of the Public Investment Fund (PIF).

Diriyah Company is overseeing the transformation of the historic area into a global cultural, tourism and lifestyle destination through a development programme valued at approximately $63 billion (SAR236 billion).

The Waldorf Astoria development is also aligned with PIF's broader strategy to expand the Kingdom's luxury hospitality offering through the delivery of 40 high-end hospitality projects across the 14-square-kilometre Diriyah Project and the 62-square-kilometre Wadi Safar destination.

According to Hassan Allam Holding, the mixed-use superblock will comprise approximately 241,000 square metres of built-up area and will include a 200-key Waldorf Astoria hotel, 47 branded residences, commercial and office buildings, an integrated super basement, and a public realm designed to support the wider destination.

The project is expected to become a significant component of Diriyah's hospitality and residential landscape as the destination continues to attract global hotel brands, cultural institutions, and lifestyle developments.

Commenting on the award, a spokesperson for Hassan Allam Holding said:

"Through our continued collaboration with Diriyah Company, we remain committed to delivering landmark developments that contribute to the Kingdom’s ambitious transformation."

The spokesperson added:

"Backed by a legacy of 90 years of excellence across the Mena region, we continue to shape iconic destinations that inspire generations and stand as enduring symbols of quality, innovation, and excellence."

The latest contract further strengthens Hassan Allam Holding's presence in Saudi Arabia's rapidly expanding construction sector, while highlighting continued investment momentum across Diriyah, which remains one of the Kingdom's most significant urban and tourism developments currently under construction.