Page 52 - December 2021 / January 2022

Another Giga-Projects is Qiddiya. Strategically located close to Riyadh and covering an area of 334sq km, it is set to become Saudi Arabia’s
iconic entertainment destination and the world’s largest entertainment city – even surpassing Walt Disney World in Florida. Qiddiya will be
split into the five development areas of Resort Core, City Centre, Eco Core, Motion Core and the Golf and Residential Neighbourhood.
Construction began in 2019 and the aim of the masterplan was to create a project that overwhelms visitors with a variety of activities. In short,
Qiddiya’s first phase of development is advancing towards an early 2023 grand opening and will include over 45 projects and more than 300
activities across the creative, hospitality and entertainment and sporting sectors. The first phase will be followed by phase two which will open
between 2024 and 2026 and phase three which will open between 2027 and 2031.

Qiddiya, Kingdom of Saudi Arabia
Developer: PIF

The upcoming Red Sea Project is a land and property development that was announced in July 2017. It is planned to be established on the
Saudi Arabian Red Sea Coast. The project is focused on tourism, hoping to attract tourists to visit and explore and the Saudi western coast. This
Giga-Project is expected to increase the Saudi GDP by $5.86bn per year upon completion, when it will cover 28,000sq km of islands, beaches,
desert, mountains and volcanic AREAS. The first phase of the scheme is expected to be completed by 2022 when 14 luxury and hyper-luxury
hotels incorporating 3,000 hotel rooms will be constructed along with an airport, marina and recreations centres. The Red Sea Project is
the world’s most ambitious luxury tourism development, and it will offer an exclusive experience unparalleled diversity for discerning global
travellers. The destination is expected to be fully completed by 2030, offering 8,000 hotel rooms across island resorts, mountain retreats and
desert hideaways.

The Red Sea Project, Kingdom of Saudi Arabia
Developer: PIF

Aside from these projects, there is also Diriyah Square, the commercial opportunity at the heart of the major Diriyah masterplan being
developed right now in Riyadh, Saudi Arabia. Set to become the world’s foremost historic, cultural and lifestyle destination, the 5 km sq
Giga-Project is being delivered by the Diriyah Development Company, a subsidiary of Diriyah Gate Development Authority. More than 500
luxurious stores, restaurants and hotels will soon call Diriyah Square home - a completely new and inspired collection of the finest in culture,
hospitality, retail, leisure and entertainment, rooted in heritage and culture, all supported by futuristic technology, logistics and infrastructure
beneath. The major project extends over a series of carefully curated neighbourhoods, streets and squares that form natural extensions to
each other - each with their own style that distinguishes it from its counterparts. The project opens its doors to guests in 2024.

Diriyah Square, Kingdom of Saudi Arabia
Developer: Diriyah Development Company

52 Retail & leisuRe inteRnational DeCeMBeR 2021 / JanuaRY 2022