Diriyah Company Awards $490 Million Contract: Details

• Contract underscores PIF-owned Diriyah Company’s ambition to develop the country’s leading historical, cultural and lifestyle destination
• Diriyah awards work to Albawani Company Ltd. and Hassan Allam Construction Saudi L.L.C., in a boost to Saudi Arabia’s private sector
• Saudi Arabia Museum of Contemporary Art will serve as a premier center of artistic exploration while supporting PIF’s drive to expand and diversify the Saudi economy

PIF-owned Diriyah Company has awarded a $490 million (SAR 1.84 billion) construction contract for the Saudi Arabia Museum of Contemporary Art (SAMoCA), in Diriyah.

The contract has been awarded to a joint venture between Albawani Company Ltd. and Hassan Allam Construction Saudi L.L.C., reflecting Diriyah Company’s ambition to develop a major cultural destination that attracts visitors and supports long-term growth.

SAMoCA is a flagship project by the Museums Commission. It aims to document, research, exhibit and champion Saudi modern and contemporary art. The museum will serve as a premier center of artistic exploration while supporting Saudi artists across generations to imagine and shape the nation’s creative possibilities.

Diriyah Company is developing the Diriyah project, the birthplace of the Kingdom of Saudi Arabia and a major historical, cultural and lifestyle destination. Diriyah is one of five giga-projects – together with ROSHN, Red Sea Global, Qiddiya and NEOM – that are driving expansion and diversification of the Saudi economy. Diriyah’s broad mission underscores its commitment to ensuring successful business outcomes and sustainable growth under the strategic direction of Vision 2030.

The museum, designed by the U.K.-based firm Godwin Austen Johnson with multidisciplinary support from Rafaat Miller Consulting, will have a gross floor area of 45,252 square meters and a total built-up area of 77,428 square meters. Notably, SAMoCA has recently achieved Mostadam Gold sustainability certification at both the design and construction stages.

The new museum at Diriyah will serve as the flagship home of SAMoCA, while SAMOCA at JAX Center continues to operate as a dynamic exhibition space in Riyadh’s creative district.

Commenting on the long-term impact of this new cultural asset, Jerry Inzerillo, Group Chief Executive Officer of Diriyah Company, said: “The Saudi Arabia Museum of Contemporary Art will provide Saudi and international artists with a truly world-class platform – one that invites global voices to engage with the Kingdom as it is today. This iconic asset will further elevate Diriyah’s reputation as the Kingdom’s capital of culture – and underscores our unwavering commitment to developing a vibrant city that serves our community, and the nation at large.”

Eng. Abdullah bin Abdulaziz Al-Hammad, Chief Executive Officer of the Museums Commission, added: “The Saudi Arabia Museum of Contemporary Art will be the epicenter of Saudi modern and contemporary art. Set against the historic legacy of Diriyah, it is designed to document and champion generations of Saudi artists, from pioneers to emerging voices, while inviting international dialogue into that story. We are committed to ensuring this dynamic platform remains accessible and inspiring for all.”

Diriyah, the $63.2 billion integrated urban development, has now awarded over $29 billion in construction contracts. Once complete, the ‘City of Earth’ will contribute approximately $18.6 billion (SAR 70 billion) directly to Saudi Arabia’s GDP, create more than 180,000 jobs, be home to an estimated 100,000 people, and welcome 50 million annual visits.

It will include museums, shopping districts, a university, the Diriyah Opera House, the Diriyah Arena, a variety of food and beverage outlets, and 34 world-class resorts and hotels spanning its two main masterplans.

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