Saudi Arabia’s Public Investment Fund (PIF) has designated Diriyah as its fifth giga-project.
Located near Riyadh, the Diriyah project is aimed at showcasing Saudi Arabia’s culture and history by delivering heritage experiences, educational and cultural opportunities, residential living, and lifestyle offerings including entertainment, retail and dining.
Diriyah becomes the fifth PIF giga-project after NEOM, Red Sea, Qiddiya, and Roshn projects.
The PIF stated: “These cultural and historical aspects position Diriyah as an unrivalled destination of global significance where the authenticity of Saudi heritage can be celebrated, revealing the historic origins of modern Saudi Arabia.”
The PIF, which manages more than $620 billion in assets, aims to diversify the kingdom’s economy and reduce its reliance on hydrocarbons.
