Diriyah Company has announced the launch of its Media and Innovation District in the historic birth place of Saudi Arabia. Spanning 250,000 sq m of office GFA, the district will feature 450 residential units as well as 15,000 sq m retail space with a mix of dining options.
A dynamic mixed-use developer, Diriyah Company is transforming Saudi Arabia's historic birthplace into a vibrant new capital of culture and entertainment.
The pioneering, future-focused hub, which was officially unveiled at the MIPIM property expo in Cannes, France, will redefine the kingdom's technology, media and communications industries by creating a dynamic new ecosystem within Diriyah, encouraging innovation and collaboration between local and global industry leaders.
According to Diriyah, the district will serve as a new home for global media networks, creative agencies, and professionals seeking a collaborative ecosystem with hitech infrastructure, designed to promote sustainability and provide an exceptional quality of life.
Spanning over 250,000 sq m of office GFA, the district will feature approximately 450 residential homes, and over 15,000 sq m for retail outlets, and a mix of dining options.
It also includes the 325-room luxury 1 Hotel Diriyah - the first property from the global 1 Hotels brand marking its Middle East debut and designed using sustainable and local resources.
Strategically located near the planned multi-purpose 20,000-seater Diriyah Arena, the Media and Innovation District is a pioneering development in the second phase of Diriyah’s urban masterplan, it stated.
Designed to host tech giants and innovation hubs that will foster creativity, content creation, digital transformation, and technological advancement, the district has already attracted significant interest from investors and partners, including major international and regional broadcasting companies, as well as industry leaders.
The district’s office buildings are designed to achieve leading sustainability credentials at every stage, including planning, design, construction, and operation that will incorporate state-of-the-art technologies, and expansive, light-filled workspaces, it added.
Unveiling the project, Group CEO Jerry Inzerillo said: "The Media and Innovation District will position Diriyah as a global hub for media production, technological innovation, and creative industries."
Developed on the outskirts of Riyadh, Diriyah is one of Saudi Arabia’s five giga-projects, backed by the world’s 5th largest sovereign wealth fund, the Public Investment Fund.
As part of this transformative urban development, Diriyah aims to provide homes for more than 100,000 residents, create an estimated 178,000 jobs, attract 50 million annual visits, and contribute a remarkable $18.6 billion directly to Saudi Arabia’s GDP once completed.
"By leveraging its rich heritage and forward-looking vision, we are cultivating a world-class ecosystem for the brightest minds in these fields," he stated.
"We anticipate a positive response from global industry leaders eager to benefit from the world-class high-tech facilities in an environment that will encourage groundbreaking ideas, technological breakthroughs and creative content," he added.-TradeArabia News Service
