Diriyah Company, formerly known as Diriyah Gate Development Authority, has joined with Swiss hospitality brand Aman Group to unveil two projects in Saudi Arabia — Aman Wadi Safar and Janu Diriyah — as part of efforts to develop the area as the kingdom’s fifth giga-project.
Located near Riyadh, Aman Wadi Safar will feature 78 rooms, 34 branded residences and amenities such as a spa and dining outlets, according to a statement from Diriyah Company on Wednesday.
Janu Diriyah, a hotel from Aman’s sister brand Janu, will be located near the Unesco world heritage site of At-Turaif. It will comprise 120 rooms, a wellness centre and dining outlets, the statement added.
“Diriyah, the City of Earth, will be the world’s largest cultural and heritage destination and these projects will enhance our luxury offerings to guests who come to explore our identity,” said Jerry Inzerillo, group chief executive of Diriyah Company.
In January, Saudi Arabia’s sovereign wealth fund Public Investment Fund designated Diriyah as its fifth giga-project after the Neom, Red Sea, Qiddiya and Roshn developments.
It reflects Diriyah’s status as a unique destination with distinctive cultural, historical and tourism landmarks, the PIF said. The project aims to showcase Saudi Arabia’s history.
The PIF, which manages more than $620 billion in assets, is at the heart of the Saudi Vision 2030 initiative that aims to diversify the kingdom’s economy and reduce its reliance on hydrocarbons.
Giga-projects form a key pillar of the PIF’s overall strategy, as they are instrumental in creating new economic ecosystems and launching new sectors that drive growth and diversification in Saudi Arabia, as well as creating investment opportunities across multiple sectors.
Last August, PIF and London-based investment company Cain International invested $900 million in Aman Group, which valued the Swiss hospitality brand at $3 billion.
The investment would help support the hospitality company’s global expansion of luxury hotels and branded residence and drive the construction pipeline of new Aman and Janu-branded properties, the companies said at the time. It will also support the acquisition and development of additional sites.
“Aman Wadi Safar and Janu Diriyah will build upon Aman Group’s existing pipeline of properties in Saudi Arabia,” Vlad Doronin, chairman and chief executive of Aman Group, said.
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Aman Group includes 34 hotels across 20 countries, 12 of which include Aman Branded Residences, with 10 projects in the pipeline or under construction.
Seven Janu hotels are in the pipeline for the brand, including in Tokyo, AlUla and Diriyah in Saudi Arabia, which are currently under construction.
Following the opening of Aman New York, Denniston Architects has been appointed for the two new projects as well, Diriyah’s statement said.
Founded by Indonesian hotelier Adrian Zecha, the Aman Group was acquired in 2014 by Mr Doronin, who has grown the business globally. He is the owner, chairman and chief executive of the company.
Aman is the flagship operator of One Beverly Hills, a 15-hectare mixed-use urban resort it is developing in Beverly Hills, Los Angeles.
The company is also in partnership with Mr Doronin’s OKO Group on several projects in South Florida, including two luxury apartment towers in Miami and 830 Brickell, a 220-metre tall Class-A office tower in the city’s emerging financial district.
In addition to Diriyah, the PIF’s giga-projects portfolio currently includes Neom, the $500 billion smart city in the north-western part of the kingdom.
Other projects include Red Sea, which is set in a 28,000 square kilometre area that includes an archipelago of 92 islands, 50 dormant volcanoes, mountain ranges and sand dunes.
There is also Qiddiya, a massive entertainment, sports and arts destination located outside Riyadh, and Roshn, a master developer mandated to make long-term investments across Saudi Arabia by developing residential communities.
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Meanwhile, At-Turaif in Diriyah was designated as a Unesco world heritage site in 2010. It was built in 1766 and is recognised as one of the world’s foremost mud-brick cities.
On completion, Diriyah will be home to 100,000 residents, workers, students and visitors, the statement said. It covers about 11 square kilometres.
The aim of the Diriyah development project is to create an international centre of cultural tourism, with new buildings constructed in the Najdi architectural style typical of traditional Saudi villages.
It will feature cultural, entertainment, retail, hospitality, educational, office and residential areas, including 38 hotels, museums, retail and dining outlets.
Marriott International announced plans to open two luxury hotels in Diriyah in 2021.
