DIRIYAH GATE DEVELOPMENT AUTHORITY ANNOUNCES NEW TIME OUT MARKET AT DIRIYAH SQUARE, RIYADH

Diriyah Gate Development Authority (DGDA) – responsible for developing the Kingdom’s foremost cultural and heritage destination, Diriyah, in Riyadh, Saudi Arabia – today announced that it has signed a management agreement with Time Out Group plc – the global media and hospitality business – to open a new Time Out Market at Diriyah Square. Diriyah Square is the commercial, retail and lifestyle heart of the 14 sq km Diriyah development. A key anchor of Diriyah Square, Time Out Market Riyadh is forecast to open in 2027.

Located across 9,000 sqm and two levels, the award-winning food and cultural market will bring Riyadh’s best chefs, restaurateurs and cultural experiences together under one roof, based on editorial curation. It will provide a space and opportunities for award-winning and established as well as up-and-coming culinary and cultural talents. There will be 23 kitchens, five beverage serveries, multiple stages, event and exhibition spaces, a demonstration kitchen, kitchen academy and kitchen lab. With approximately 1,650 seats, guests will have a variety of indoor and al fresco dining options.

Time Out first started in 1968 to showcase the best of the city and today covers content on 333 cities in 59 countries, with Time Out Riyadh having launched last year with franchise partner ITP Media Group. Holly Sands, Editorial Director, Hospitality & Entertainment at ITP Media Group: "The Market comes on the heels of the launch of Time Out Riyadh in 2021, established to help people discover the best of this rapidly developing city – just as we have done globally for more than 50 years. Time Out is about celebrating home-grown creativity, giving local talent a platform and letting a new generation of young, ambitious Saudis in the city share stories about the future they are building. We cannot wait to curate and showcase the best of the city at Time Out Market Riyadh in Diriyah Square."

The Diriyah Square development will deliver a unique retail, leisure, entertainment, hospitality and cultural offering for residents of and visitors to Riyadh. Over 180,000 sqm in size, Diriyah Square will include more than 400 global retail and lifestyle brands and outstanding dining offers as well as over 100 local concepts, seamlessly blending international brands with the best of traditionally inspired  Saudi retail. In addition to the unparalleled retail offer, there will be six luxury hotels, three branded residences, five premium office buildings and over 20 open-air event spaces. This completely walkable district will change the retail and leisure landscape of Riyadh. Whilst respecting the rich history and traditional Najdi architecture unique to the area, the design of Diriyah Square will feature state-of-the-art modern conveniences, delivering a unique place to shop, eat, rest, work and play.

Jerry Inzerillo, Group CEO - DGDA commented: “We are thrilled to announce Time Out Market for Diriyah Square, becoming the first of many major anchors for the development. The team at Time Out Market share our vision – creating a vibrant dining experience for both locals and visitors alike that complements the retail, lifestyle and culture ingrained across Diriyah, and especially here at Diriyah Square.”

Time Out Market Co-CEO (Development) Jay Coldren added: “Time Out has always been at the forefront of urban centres, shining a light on the best of the city. Our Time Out Markets let local culinary and cultural talent showcase their skills, bring people together to connect, create employment opportunities, and provide an open and diverse workplace for the community. Diriyah Square is set to be a landmark, combining history, heritage and culture alongside retail and hospitality – as the country is opening up to tourism and the world, there is a well-established eating out culture that continues to grow, and evolving cultural scenes which both locals and visitors are increasingly enjoying. We are looking forward to offering our unique Time Out Market experience, alongside our partners at DGDA.”

Time Out Market currently has seven open locations with a further seven signed, in addition to several other locations in advanced negotiations.

As part of Saudi Arabia’s Vision 2030, Diriyah will be transformed into the Kingdom’s foremost historical, cultural and lifestyle destination and one of the world’s most important historic tourism destinations. Diriyah will present a completely new lifestyle experience for residents and visitors alike.

Diriyah is a $63.2 billion development making substantial progress – already opening two elements of the masterplan in Q4 2022: At-Turaif, the UNESCO World Heritage site, and Bujairi Terrace, the new 15,000 sqm culinary destination with over 20 world-class local, international and Michelin star restaurants.