(MENAFN- Mid-East Info)
Diriyah Company was a key participant in High-Level Stakeholder Debate on Creating A New Frontier to Contemporary Urban Development at Saudi House
First-time participant at Davos as a newly accredited WEF Associate Partner
Debate Reinforced Diriyah Company's Role in Innovative Global Urban Development
Participation Supports the WEF 2025 Theme“Collaboration For The Intelligent Age”
DAVOS, Switzerland, January 2025 – Diriyah Company marked its first participation at the World Economic Forum (WEF) in Davos this week by taking a key role in a high-level debate on the urgent need for new and innovative solutions to large-scale contemporary urban development worldwide.
Hosted by the Saudi House, the home of Saudi Arabia's participation at WEF, leading international stakeholders and decision-makers took part in a session titled“New Frontier to Contemporary Urban Development,” which included Diriyah Company Group CEO Jerry Inzerillo.
Alongside panelists Rami Alturki, Managing Director and Executive Committee Chairman of Nesma & Partners and Aparna Bawa, COO of Zoom, the WEF-accredited session explored how visionary urban planning, technology integration, collaborative strategies and investment opportunities can redefine cities' future.
Mr. Inzerillo was among a select group of experts who engaged in vibrant discussions on transforming historic sites into vibrant, people-centric urban hubs, drawing inspiration from the example of Diriyah, The City of Earth, located on the outskirts of Riyadh, Saudi Arabia.
Panelists investigated at the vital role of cross-industry partnerships, unique investment opportunities and smart technologies in developing cities that are sustainable, inclusive, and attractive for investors, businesses and residents.
It is the first time Diriyah Company has been a WEF participant following its accreditation in 2024 as an Associate Partner. Commenting on their presence in Davos, Diriyah Company Group CEO Jerry Inzerillo said:“We are enormously proud to be a participant in the world's biggest annual gathering of the global economic and political community. It is giving us an unrivalled opportunity to share our story and the opportunities Diriyah has to offer to the world.
“We are indebted to His Highness Prince Faisal bin Farhan bin Abdullah, Saudi Arabia's Minister of Foreign Affairs and the head of the Kingdom's delegation at WEF and to His Excellency Khalid AlFalih, the Kingdom's Minister of Investment, for their support and guidance in making this happen, and we are privileged to join so many Ministries and other leading organizations hosting global stakeholders at Saudi House.
“The high-powered event gave opportunities to offer insights into how both new smart development techniques and processes can accelerate the construction and delivery of assets in highly complex and inter-connected master plans like ours at Diriyah and the crucial role that international investment plays in achieving those objectives.”
The Saudi House hosted event also examined models of innovative urban development, identifying solutions for addressing global challenges in urbanization and quality of life enhancement and highlighting unique investment opportunities in that ecosystem.
Rami Alturki, Managing Director and Executive Committee Chairman of Nesma & Partners, added:“One of our goals from this timely and highly relevant discussion was to demonstrate the importance of collaboration between developers and contracting companies in accelerating urban development. By working together to integrate innovative technologies and sustainable practices, we are not just building infrastructure-we are creating thriving communities aligned with the ambitious goals of Vision 2030. At Nesma & Partners, we are proud to play a pivotal role in shaping the future of Saudi Arabia's cities alongside forward-thinking partners like Diriyah Company.”
Session participants also heard how strong private-public sector partnerships and shared goals are crucial in building the human-centric cities of the future – a debate fully attuned to the WEF 2025 theme of“Collaboration For The Intelligent Age.”
It was one of two events to happen at Saudi House involving Diriyah Company. The first featured Diriyah Company Chief of Strategic Management, Talal Kensara, in a fireside chat that discussed the wide-ranging and diverse investment opportunities that the project has to offer global investors from this $63.2 billion Public Investment Fund backed giga project.
Throughout WEF, senior company executives have attended a number of high-profile networking events to engage with global stakeholders.
Diriyah is one of Saudi Arabia's five high profile giga projects and the sole urban focused development that is creating a new contemporary city, embracing 300 years of history and heritage in the birthplace of the modern Saudi state.
A place that will host 100,000 residents, have over 40 luxury hotels, office space for tens of thousands, arts and cultural districts, world-class sports facilities and hundreds of retail outlets. As a cornerstone of Saudi Arabia's Vision 2030 strategy, it is set to welcome 50 million visits by 2030, contributing $18.6 billion to the Kingdom's GDP.
About Diriyah Company:
Diriyah Company was established in 2023 and joined the Public Investment Fund's (PIF) portfolio of giga-projects. The Company is responsible for developing the Diriyah project, the birthplace of the Kingdom of Saudi Arabia and its foremost historical, cultural, and lifestyle destination. A dynamic mixed-use developer, Diriyah Company is redefining urban planning to develop Diriyah,“The City of Earth”, while adhering to the highest design, development, and preservation standards. The company ensures Diriyah's cultural landmarks are complemented by world-class retail offerings, fine-dining experiences, and leading hospitality brands.
As a PIF company, its mission focuses on opportunities in development, hospitality, investment, retail, and office leasing, along with strategic asset management, underscoring the commitment to ensuring successful business outcomes and sustainable growth under the strategic direction of Vision 2030. The Diriyah Company actively forges long-term partnerships to realize its vision of establishing Diriyah as one of the world's greatest gathering places.
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