MIDAD REAL ESTATE AND DIRIYAH COMPANY TO CO-DEVELOP LUXURY $827 MILLION FOUR SEASONS HOTEL AND PRIVATE RESIDENCES IN DIRIYAH

The $827 million investment and development agreement marks a significant collaboration, strengthening Midad’s expanding Four Seasons portfolio and luxury development pipeline.

Riyadh, Saudi Arabia, 7 January 2026: Midad Real Estate has signed a strategic investment and development agreement with Diriyah Company to co-develop Four Seasons Hotel and Private Residences Diriyah on a 235,938-square-meter site in Diriyah, the City of Earth and the Kingdom’s historic and cultural landmark. The signing ceremony was attended by His Excellency Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia, Jerry Inzerillo, Group CEO Diriyah Company, Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate, and a number of executives.

The USD 827 million (SAR 3.1 billion) investment, covering land and construction, underscores Midad’s expertise in luxury hospitality and residential development and its commitment to Vision 2030, driving tourism, investment, job creation, and sustainable economic impact.

Midad Real Estate will lead the development, featuring a 159-room luxury Four Seasons Hotel and private residences, combining world-class service and design to set new standards for luxury hospitality in the Kingdom.

His Excellency Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia and Secretary General of Diriyah Company, said: “Saudi Arabia continues to set new benchmarks in destination development, and Diriyah stands at the forefront of this evolution. Partnerships such as this enhance the Kingdom’s global tourism offering and reinforce our position as a leading destination.”

“This project represents a milestone for Midad, allowing us to bring the Four Seasons experience to one of Saudi Arabia’s most significant heritage destinations. We are excited to deliver a development that exemplifies design excellence, world-class service, and enduring value, while actively contributing to the Kingdom’s tourism, cultural, and economic ambitions.” said Abdulelah bin Mohammed Al Aiban, President of Midad Real Estate.

Jerry Inzerillo, Group CEO Diriyah Company, commented: “The Four Seasons Hotel Diriyah will be one of our largest luxury hotels and we are proud to announce this joint development agreement with Midad, one of the Kingdom’s leading real estate developers. This agreement reflects our ongoing commitment to enabling Saudi partners to participate in Diriyah’s transformational journey and underscores Midad’s confidence in the opportunities the project presents.”

Part of nearly 40 luxury hotels across Diriyah’s masterplans, the highly anticipated project reinforces Midad Real Estate’s expertise in high-end, transformative hospitality and residential developments, shaping the Kingdom’s luxury real estate landscape.