Diriyah inks $1B deals with European firms: DGDA CEO

Diriyah Gate Development Authority (DGDA) concluded deals worth nearly $1 billion with European companies, Reuters reported, citing CEO Jerry Inzerillo.

The company agreed with an Italian development firm and a French firm, while talks were underway with several foreign investors, expressing their desires to purchase stakes in hotels and real estate development projects.

During 2023 and 2024, the Public Investment Fund (PIF) supported the Diriyah project worth SAR 20 billion ($5.33 billion).

Inzerillo expected that PIF to sustain the Diriyah project with about SAR 12 billion by next year, 2025.