Saudi PIF-backed Diriyah project awards $1.53bn arena contract to China Harbor

17/07/2025 01:46 AST

Saudi Arabia's entertainment landscape is set for a major boost with the awarding of a SR5.75 billion ($1.53 billion) contract to construct a 20,000-seat arena as part of the Diriyah development.

Diriyah Co., a subsidiary of the Public Investment Fund, has awarded the contract to a branch of China Harbor Engineering Co. for the Arena Block, a district that will include the Diriyah Arena, three mixed-use office buildings, and a parking facility, the company announced.

Spanning approximately 74,000 sq. meters, the Diriyah Arena is designed to host concerts, sports, esports, exhibitions, and live performances to attract residents and international visitors.

The Diriyah project, located on the northwestern outskirts of the capital, Riyadh, is one of five giga-projects backed by PIF under the Vision 2030 plan and aims to transform the Kingdom's economic and tourism sectors.

Upon completion, it is expected to contribute around SR70 billion to the gross domestic product, generate nearly 180,000 jobs, and accommodate approximately 100,000 residents.

"The iconic Diriyah Arena will be a landmark entertainment complex in Diriyah that reinforces the City of Earth's growing global role in shaping Saudi Arabia's artistic and cultural future, in alignment with Vision 2030," Jerry Inzerillo, group CEO of Diriyah Co., said.

The contract is the latest step in the company's ongoing 2025 development drive, marking continued progress on the project.

Yang Zhiyuan, CEO of the Chinese firm for the Middle East, said: "CHEC will bring to the project a wealth of global experience, technical expertise, and a proven track record in delivering the complex."

Designed by global firm HKS Inc., the structure blends traditional Najdi architecture with modern elements, reflecting Diriyah's cultural heritage and global outlook.

The broader Arena Block will also include three mixed-use office buildings designed by John McAslan + Partners, covering 114,000 sq. meters, along with over 4,000 parking spaces to support the stadium and surrounding offices.

Arab News