Diriyah allows Montage bidders more time
12 February 2026
Saudi gigaproject developer Diriyah Company has extended the bid deadline to 14 February for a contract to build a Montage hotel and branded residences within its Wadi Safar masterplan in the Diriyah development.
The project comprises a 200-key hotel and 30 branded residences.
The tender was issued in December last year.
Dubai-based SSH is the lead designer and the supervision consultant.
UK-headquartered Turner & Townsend is the project management consultant.
Wadi Safar is one of the original projects announced by Diriyah Company as part of the Diriyah project.
It is a mixed-use development featuring residential buildings, farm plots, hotels, branded hotel villas, a golf course, an equestrian and polo club, and other leisure and entertainment facilities.
The main construction works on some of the other assets in Wadi Safar are under way.
In July last year, MEED exclusively reported that Diriyah Company had awarded an estimated SR8bn ($2bn) contract to construct assets in the Wadi Safar development to a joint venture of local firm Albawani and Qatari contractor Urbacon Trading & Contracting.
The joint venture is developing the following assets:
- The Aman Wadi Safar hotel and residences
- A Six Senses hotel
- A Chedi hotel and residences
- A Faena hotel and residences
- The Royal Diriyah Equestrian & Polo Club (excluding enabling works)
- The North and South Fairways retail facilities and a mosque
- The Grove retail facilities, mosque and clinics
Last year, the company awarded several main construction contracts worth over SR24bn ($6.5bn).
In November, Diriyah Company awarded two construction contracts with a combined value of over SR5.7bn ($1.5bn), as MEED reported.
The contracts were officially announced on the sidelines of the Cityscape Global event in Riyadh on 17 November.
The first contract was awarded to local firm BEC Arabia Contracting Company for the construction of offices in the Media and Innovation District of Diriyah.
MEED understands that the contract is valued at about $800m.
This project will deliver office spaces for media companies and creative agencies.
Within the same district, BEC Arabia will also build residential assets on the Manazel Al-Hadawi plots.
The other contract, estimated to be worth $900m, was awarded for the main construction works on King Khalid Road.
The deal was signed with another local firm, Almabani General Contractors.
The project involves constructing three interchanges connecting King Khalid Road with the northern and western ring roads.
The Diriyah masterplan envisages the city as a cultural and lifestyle tourism destination. Located northwest of Riyadh’s city centre, it will cover 14 square kilometres and combine 300 years of history, culture and heritage with hospitality facilities.
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EditorRead the April issue of MEED Business Review
Employment and investment opportunities in a low or no-tax environment have been key attractions for people and businesses located in the GCC for decades. Another crucial factor has been safety and security.
That reputation has been tested by the missile and drone attacks that began on 28 February. Whether the GCC’s safe haven status has been damaged depends on perspective.
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Safety concerns vary. In many parts of the world, higher levels of crime are an everyday worry for residents and businesses. For some, the GCC may still feel like the better option, provided the current tensions do not become the new normal.
How this question is answered will play an important role in how the region’s economies perform in the period ahead. If confidence returns quickly and the risk is seen as contained and manageable, investment and hiring will likely rebound faster than many expect. If uncertainty persists or escalates, the road to recovery will be a long one.
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Saudi forecast remains one of growth
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Dubai seeks consultants for Al-Khawaneej stormwater project
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Dubai Municipality has issued a consultancy tender to assess and upgrade the stormwater drainage system serving the Al-Khawaneej First residential district in northeastern Dubai.
The project, listed as TF-22-E1, covers the upgrading and rehabilitation of the stormwater system in the area. The tender has been issued by the municipality’s Sewerage and Recycled Water Projects Department.
The bid submission deadline is 23 April.
The works form part of Dubai’s wider efforts to strengthen flood resilience and support sustainable urban infrastructure development.
Two separate consultancy tenders were issued in March as part of a broader review of the emirate’s water and wastewater infrastructure to support future population growth.
One involves a study to develop a sustainable urban drainage systems strategy across the emirate. The other covers a review of the emirate’s sewage treatment and recycled water distribution strategy.
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Developer plans two residential schemes in Saudi Arabia
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In a Tadawul filing on 31 March, Alramz said it had signed an agreement with Oud Capital to establish a sharia-compliant real estate investment fund to develop the Alramz Front project in Jeddah’s Al-Firdous district.
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Oman’s Nama PWP tenders consultancy contract
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The deadline for firms to submit offers is 10 May.
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Solar photovoltaic capacity in the sultanate is projected to rise from 1.54GW in 2024 to 23.26GW by 2031. Wind capacity is expected to grow from 120MW to 6.75GW,
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