https://arab.news/v9qga
RIYADH: Plans for a lifestyle hub in Diriyah boasting more than 400 shops and over 100 restaurants and cafes will be unveiled at the World Retail Congress in Paris.
Details around the development will be on show at the event, set to be held from April 16 to 18, Diriyah Co. have announced.
The destination – known as Diriyah Square – is part of a $62.2 billion refurbishment and renovation of the area, which has been designated as one of Saudi Arabia’s giga-projects.
In a statement announcing the presence at the World Retail Congress, Group CEO of Diriyah Co. Jerry Inzerillo said: “Diriyah Square is more than just a shopping destination—it is a symbol of Saudi Arabia's commitment to driving economic growth and fostering creativity and innovation.”
He added: “That is why we are so excited to invite investors and stakeholders from around the world to join us in this exciting journey, and to be a part of shaping the future of retail.
“With its pedestrian-centric design, direct access to Wadi Hanifah, and close vicinity to the breathtaking At-Turaif UNESCO World Heritage Site, the district will be a world-leading lifestyle destination.”
Diriyah is a key component of Saudi Arabia’s Vision 2030 initiative to diversify the Kingdom’s economy away from oil.
Upon completion, it will host 100,000 residents, workers, students, and visitors.
In February, Inzerillo told Arab News that Diriyah Co. is aiming to break ground on 11 new assets by the end of 2024.
Speaking on the sidelines of the Public Investment Fund’s Private Sector Forum held in Riyadh, the CEO said that among the upcoming initiatives is the King Salman Boulevard, which he deemed Saudi Arabia’s version of Paris’ Champs-Elysees.
It will be revealed in December, when the company holds its “Bashayer” event to announce its upcoming initiatives.
The last meeting saw the unveiling of the Diriyah Art Futures museum.