Today, His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, the Prime Minister and Chairman of the Public Investment Fund (PIF), unveiled the Diriyah Project as PIF's fifth monumental giga-project. This declaration underscores the exceptional status of Diriyah as a one-of-a-kind destination adorned with its own cultural, historical, and tourism treasures.
The Crown Prince's proclamation reflects his unwavering commitment to showcasing Saudi Arabia's cultural identity. The Diriyah Project is a living embodiment of this dedication, brimming with historical, cultural, and political significance. It proudly stands as a testament to Saudi Arabia's illustrious 300-year history, offering the world a glimpse into its rich past. At its heart lies the Turaif District UNESCO World Heritage Site, a testament to the global significance of this venture.
Positioned at the crossroads of culture and history, Diriyah emerges as an unparalleled global destination where Saudi heritage takes center stage. Here, the authenticity of Saudi traditions can be celebrated, unveiling the roots from which modern Saudi Arabia has flourished. Immersive experiences await tourists, who will have the opportunity to delve into Saudi Arabia's history and culture through the city's museums and purpose-built pavilions.
PIF's giga-projects represent a pivotal element of its overarching strategy. These projects serve as catalysts for new economic ecosystems and the launch of pioneering sectors that drive Saudi Arabia's economic growth and diversification. They simultaneously create an array of investment prospects across various industries. PIF's prestigious giga-project portfolio already encompasses NEOM, the Red Sea Project, Qiddiya, Roshn, and now, the Diriyah Project.
Anticipated to foster strategic advancements within domestic sectors, the Diriyah giga-project will foster partnerships with local private enterprises and unlock myriad investment opportunities throughout its developmental and operational phases. These span areas like construction, hotel management, retail, entertainment, and cultural amenities. In effect, the project will generate thousands of employment avenues and introduce initiatives aimed at enhancing the quality of life for both residents and visitors.
Established by Royal Order in 2017, the Diriyah Gate Development Authority (DGDA) will continue to oversee the preservation of Diriyah's heritage and legacy. In tandem, it will serve the Diriyah community and lend full support to establish the Diriyah Project as one of the globe's most eminent tourist hotspots.
In harmony with PIF's strategic focus, the Diriyah Project underscores the potential of burgeoning sectors such as tourism and culture. This concerted effort bolsters Saudi Arabia's regional and international standing as a premier destination for both cultural enrichment and tourism experiences.