Hassan Allam Signs $2.7B Waldorf Astoria Diriyah Project

Hassan Allam Holding and UCC Saudi formalise a SAR 2.7 billion contract to develop the Waldorf Astoria Hotel, branded residences, and a mixed-use superblock in Diriyah, supporting Saudi Arabia’s Vision 2030 goals.

Hassan Allam Holding has officially entered into an agreement worth SAR 2.7 billion for building the Waldorf Astoria Hotel, Residences and Mixed-Use Superblock project in Diriyah, Saudi Arabia. The project shall be delivered by its wholly owned subsidiary, Hassan Allam Construction Saudi, in collaboration with UCC Saudi which is a wholly owned subsidiary of UCC Holding. The project falls under the master plan of Diriyah Company to convert the historic city into one of the major cultural and tourism hubs of the world.

Within the Boulevard Northwestern district of Diriyah Gate 2, the superblock development will occupy a total of about 241,000 square meters of developed area. The superblock development will include the 200 rooms Waldorf Astoria hotel, 47 luxury residences, commercial offices, a super basement, public landscaped areas, and infrastructure. This superblock development is designed to be a premium hospitality and lifestyle development, and it will add to the already established position of Diriyah as one of the flagships of giga-projects in Saudi Arabia.

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Signing of the contract is considered a turning point from awarding the contract to the execution of the project, emphasizing the partnership that has existed for a very long time between Hassan Allam Holding and Diriyah Company. The company’s management has expressed that this project is an example of how they are committed to developing world-class projects that meet the objectives of Saudi Arabia’s Vision 2030 plan.

This agreement adds value to the existing portfolio of Hassan Allam Holding in the construction industry in Saudi Arabia. Having more than ninety years of experience in engineering and infrastructural development throughout the Middle East and North Africa, the company still manages to secure contracts that make an impact on the development of the Kingdom.

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Waldorf Astoria Superblock development will be developed into a destination site which will have a combination of high-end hotel facilities, premium residences, business centers and public amenities in one project. As the development continues, the development will help Diriyah in achieving its plan of developing a renowned urban destination in the world in addition to economic activities and job creation. This project will also show the commitment of Saudi Arabia towards investing in world-class infrastructure and hospitality.