Jerry Inzerillo, Group CEO of the Diriyah Gate Development Authority, announced that significant infrastructure developments in Diriyah are projected for completion by 2027. These developments will incorporate 60,000 underground parking spaces, pedestrian-friendly zones, and advanced facilities, all designed to align with the historical heritage of the area.

Inzerillo spoke at the PIF Private Sector Forum held in Riyadh, highlighting Diriyah Square as a central element of the city’s transformation.

The ongoing construction within the commercial and cultural district includes 83 tower cranes currently in operation.

The area will feature a 1.9-kilometer boulevard inspired by the Champs-Élysées, which will house Saudi Arabia's contemporary art museum, a 20,000-seat arena, an exhibition center, an opera house, and the largest Apple store globally.

Diriyah, recognized as the birthplace of the Kingdom of Saudi Arabia, is undergoing a substantial transformation with investments amounting to $64 billion, aiming to establish it as a global destination and a model for sustainable, walkable urban development.

Approximately 40,000 workers are present on-site each day to expedite the developmental and infrastructural enhancements, as well as hospitality expansions.

The UNESCO World Heritage Site of Diriyah has welcomed 3 million visitors to date, with estimates projecting a rise to 27 million by 2030. Despite the ongoing developments, Diriyah is already generating revenue, with operating income anticipated to exceed projections for 2025. Early residential sales have recorded advanced deposits between SR13 billion and SR14 billion, with luxury properties from Ritz-Carlton, Raffles, and Oberoi fully sold, alongside five of 37 Aman Villas purchased within three days of being introduced.

Inzerillo highlighted that these figures represent actual deposits from sales, emphasizing an increasing interest from international investors, including developers from Italy and Colombia, alongside attention from Qatari and Emirati buyers.

Diriyah is identified as a flagship project under Saudi Arabia’s Vision 2030 initiative, with its rapid development aligning with the Kingdom’s larger economic transformation.

The country is witnessing an influx of multinational corporations establishing operational headquarters, reflecting growing confidence in its business-friendly environment.

Saudi Arabia achieved G20 membership faster than any other nation, according to Inzerillo, reinforcing the Kingdom's strategic position within the global economy.

Diriyah's development as a cultural and investment hub coincides with Saudi Arabia’s portfolio of upcoming international events, which includes Expo 2030, the 2027 Asian Football Games, and the 2034 FIFA World Cup.

As Riyadh's population is projected to reach 12 million, Diriyah is positioned to emerge as a pedestrian-friendly lifestyle hub.

The development spans 14.2 million square meters, comparable in size to Beverly Hills, California, and will include 40 luxury hotels, 30,000 residential units, and a variety of retail and dining options.

Additionally, Wadi Safar, adjacent to Diriyah, will feature premium resorts from Aman, Six Senses, and Chetty, alongside a Greg Norman-designed 27-hole golf course.

Inzerillo noted that a future public listing for Diriyah could follow the trend set by other Public Investment Fund (PIF)-backed mega-projects, citing strong return on investment prospects and rising interest amongst local and international investors as critical components for long-term financial sustainability.