The Crown Prince announces the Diriyah project as the Investment Fund’s fifth major project

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of the Board of Public Investment Fund of Saudi Arabia, today announced the inclusion of the Diriyah Project as the fifth major project owned by the Fund for Saudi Arabia public investment, to become one of the only projects of its kind in the world, is rich in cultural, heritage and tourist attractions.

The announcement comes as an extension and affirmation of the Crown Prince’s efforts regarding all the major elements that make up Saudi national identity and culture, including the Diriyah project, and the historical, cultural and political value it constitutes. in the 300-year history of the Saudi state.

The Diriyah project is important because it embraces many of the cultural and heritage landmarks of the Kingdom, such as the historic Turaif district, which is one of the sites included in the UNESCO World Heritage List, as well as many heritage elements that will make the project an attractive and unique destination, to offer its visitors unique experiences that enable them to learn about the history of the city, the Kingdom and authentic Saudi culture, by hosting cultural and historical events and visiting museums and various facilities, according to the Saudi Press Agency, SPA.

Major projects are a key pillar of the Public Investment Fund strategy, in in terms of scope and ambition, with its ability to develop new infrastructure development schemes and launch many promising sectors, the positive impact of which extends to supporting economic development and diversification efforts in the Kingdom, as well as enhancing investment opportunities in many sectors.

The Public Investment Fund’s major projects portfolio includes NEOM, Red Sea, Qiddiya, Roshan and Diriyah projects.

The Diriyah project will help to enhance many strategic local sectors, as well as create partnership opportunities with the private sector and initiate a number of new investment opportunities in the project through the various stages of development and implementation. It is about constructing, constructing, operating and managing hotels, housing units, shopping malls, entertainment and cultural facilities, as well as helping to provide thousands of job opportunities and present initiatives that help improve the quality of life in the region .

The Diriyah Gate Development Authority, established by royal order in 2017, will continue to carry out its regulatory and oversight duties for its geographical scope, in order to preserve the heritage and history of Diriyah, in addition to its responsibilities represented in serving the community of the people of Diriyah and in confirming the continuity in providing full support to the project of Diriyah to become one of the top tourist destinations in the world.

The Diriyah project is in in line with the Public Investment Fund’s strategy to achieve the Kingdom’s Vision 2030 objectives and diversify the local economy, contributing to the development and empowerment of vital sectors such as the tourism and culture sectors, which strengthen the Kingdom’s position regionally and internationally as a leading tourist and cultural destination.

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